MINOT, N.D., Feb. 25, 2010 (GLOBE NEWSWIRE) -- Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP) announced today that its Board of Trustees has declared a regular quarterly distribution of 17.15 cents per share/unit payable on April 1, 2010 to common shareholders and unitholders of record at the close of business on March 15, 2010. The distribution reinvestment price will be the closing NASDAQ share price on April 1, 2010, less a discount of 5%. The Company has filed a registration statement with the Securities and Exchange Commission to register the number of common shares necessary to meet distribution reinvestment elections.
This 17.15 cents per common share/unit distribution represents the 156th consecutive quarterly distribution paid by IRET since its inception in 1970. The previous regular quarterly distribution, also of 17.15 cents per common share/unit, was paid January 15, 2010.
Investors Real Estate Trust's Board of Trustees also declared a distribution of 51.56 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares (Nasdaq:IRETP). This distribution will be payable March 31, 2010 to Series A preferred shareholders of record on March 15, 2010.
About Investors Real Estate Trust
Investors Real Estate Trust is an equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and Omaha, Nebraska.