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Landmark Infrastructure Partners LP (NASDAQ: LMRK) announced a quarterly cash distribution of $0.49375 for its 7.90% Series B Cumulative Redeemable Perpetual Preferred Units, payable on August 17, 2020, to unitholders of record by August 3, 2020. Additionally, a distribution of $0.4375 for the Series C Floating-to-Fixed Rate Cumulative Perpetual Redeemable Convertible Preferred Units will also be made on the same date. This distribution rate is based on a calculation considering either 7.00% per annum or the three-month LIBOR plus a spread of 4.698%.
Landmark Infrastructure Partners LP (NASDAQ: LMRK) has declared a quarterly cash distribution of $0.500 per Series A Preferred Unit, with payment set for July 15, 2020, for unitholders of record as of July 1, 2020. This distribution reflects a yield of 8.00% and is primarily attributable to dividend income from a real estate investment trust. The Partnership focuses on owning and managing real property interests in wireless communication, outdoor advertising, and renewable power generation sectors. The press release includes cautionary forward-looking statements regarding business risks and uncertainties.
Landmark Infrastructure Partners LP announced the sale of its European outdoor advertising portfolio for £95 million. The proceeds will reduce leverage by repaying borrowings, terminating interest rate swaps, and funding general partnership needs. Despite potential dilution in funds from operations, the CEO expressed confidence in gaining capital for future acquisitions and developments. This transaction may also lead to taxable income for unit holders, regardless of cash distribution.
