JBG SMITH Declares a Quarterly Common Dividend of $0.225 Per Share and a Special Cash Dividend of $0.10 Per Share
CHEVY CHASE, Md.--(BUSINESS WIRE)--Dec 18, 2018--JBG SMITH (NYSE: JBGS), a leading owner and developer of high-quality, mixed-use properties in the Washington, DC market, today announced that its Board of Trustees has declared a quarterly dividend of $0.225 per common share, an indicated annual dividend of $0.90 per common share. In addition, the Board of Trustees has declared a special cash dividend of $0.10 per share. Both dividends will be paid on January 8, 2019 to common shareholders of record as of December 28, 2018.
The special dividend allows JBG SMITH to distribute 100% of its estimated REIT taxable income for the year ending December 31, 2018, including higher than anticipated gains from JBG SMITH’s successful capital recycling efforts in 2018. After accounting for the special dividend, JBG SMITH retained substantially all the net proceeds from its capital recycling efforts, which were used to deleverage its balance sheet and create capacity for future investment opportunities.
About JBG SMITH
JBG SMITH is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC. Our mixed-use operating portfolio comprises approximately 19 million square feet of high-quality office, multifamily and retail assets, 98% of which are Metro-served. With a focus on placemaking, we drive synergies across the portfolio and create amenity-rich, walkable neighborhoods. JBG SMITH’s future development pipeline includes over 19 million square feet of potential development density. For additional information on JBG SMITH please visit www.jbgsmith.com.
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CONTACT: Jaime Marcus
SVP, Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA MARYLAND
INDUSTRY KEYWORD: URBAN PLANNING CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: JBG SMITH
Copyright Business Wire 2018.
PUB: 12/18/2018 04:30 PM/DISC: 12/18/2018 04:30 PM