Press Release
JLL Income Property Trust Declares 46th Consecutive Quarterly Dividend
May 11, 2023
JLL Income Property Trust, an institutionally managed daily NAV REIT (NASDAQ:ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) with approximately $7 billion in portfolio assets, announced that on May 9, 2023, its Board of Directors declared a dividend for the second quarter of 2023 of $0.145 per share. This will be the 46th consecutive dividend paid to its stockholders.
The dividend is payable on or around June 28, 2023 to stockholders of record as of June 23, 2023. On an annualized basis, this gross dividend is equivalent to $0.58 per share and represents a yield of approximately 4.2 percent on a NAV per share of $13.67 as of May 9, 2023. All stockholders will receive $0.145 per share less applicable share class specific fees and the annualized yield will differ based on the share class.
“We’re proud that JLL Income Property Trust continues to be a reliable source of distributions for our stockholders amid an inflationary environment,” said JLL Income Property Trust President and CEO Allan Swaringen. “We’ve achieved consistent dividend growth over the past decade and are now paying our 46th consecutive quarterly dividend, which we believe demonstrates the benefit of investing in core real estate to grow cash flows over time, even during an uncertain market environment.”
A first quarter dividend of $0.145 per share, less applicable share class specific fees, was paid according to the table below on March 29 to stockholders of record as of March 24, 2023. Any future dividends will be approved at the discretion of the Board of Directors.
M-I Share |
A-I Share1 |
M Share2 |
A Share3 |
|
|---|---|---|---|---|
Q1 Quarterly Gross Dividend per Share |
$0.14500 |
$0.14500 |
$0.14500 |
$0.14500 |
Less: Dealer Manager Fee per Share |
- |
($0.00807) |
($0.00968) |
($0.02616) |
Q1 Quarterly Net Dividend per Share |
$0.14500 |
$0.13693 |
$0.13532 |
$0.11884 |
NAV per Share as of March 31, 2023 |
$13.77 |
$13.79 |
$13.78 |
$13.76 |
Annualized Net Dividend Yield Based on NAV as of March 31, 2023 |
4.2% |
4.0% |
3.9% |
3.5% |
- A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class A-I stockholders daily and reduces the quarterly dividend paid.
- A dealer manager fee equal to 1/365th of 0.30% of NAV is allocated to Class M stockholders daily and reduces the quarterly dividend paid.
- A dealer manager fee equal to 1/365th of 0.85% of NAV is allocated to Class A stockholders daily and reduces the quarterly dividend paid.
JLL Income Property Trust is an institutionally managed, daily NAV REIT that brings to investors a growing portfolio of commercial real estate investments selected by an institutional investment management team and sponsored by one of the world’s leading real estate services firms.