New England Realty Associates Announces First-Quarter Distribution on Class A Units and Depositary Receipts and a Special One-Time Distribution

(Neutral)

(Very Positive)

Rhea-AI Summary

New England Realty Associates Limited Partnership (NYSE MKT: NEN) announced its quarterly distribution for Class A Limited Partners and holders of Depositary Receipts. Effective March 31, 2023, the distribution is set at $9.60 per Class A Unit and $0.32 per Depositary Receipt, with a record date of March 20, 2023. Additionally, a special one-time distribution of $38.40 per Class A Unit and $1.28 per Depositary Receipt will also be made. Depositary Receipts represent one-thirtieth of a Class A Partnership Unit and are traded under the symbol 'NEN'.

Positive

Quarterly distribution of $9.60 per Class A Unit indicates strong cash flow.
Special one-time distribution of $38.40 per Class A Unit is a significant return to investors.

Negative

None.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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03/09/2023 - 10:28 AM

ALLSTON, Mass., March 9, 2023 /PRNewswire/ -- On March 31, 2023, New England Realty Associates Limited Partnership (NYSE MKT: NEN) will make its quarterly distribution to its Class A Limited Partners and holders of Depositary Receipts of record as of March 20,2023. The quarterly distribution per Class A Limited Partnership Unit will be $9.60 per Unit. The quarterly distribution per Depositary Receipt will be $0.32. In additional to the quarterly distribution will be a special one-time distribution of $38.40 per Class A Unit and $1.28 per Depositary Receipt. Each Depositary Receipt represents a beneficial ownership of one-thirtieth of a Class A Partnership Unit. Depositary Receipts are listed on The NYSE MKT under the trading symbol "NEN".

View original content:https://www.prnewswire.com/news-releases/new-england-realty-associates-announces-first-quarter-distribution-on-class-a-units-and-depositary-receipts-and-a-special-one-time-distribution-301768115.html

SOURCE New England Realty Associates Limited Partnership

FAQ

What is the quarterly distribution amount for NEN in March 2023?

The quarterly distribution amount for NEN is $9.60 per Class A Unit.

When is the record date for NEN's quarterly distribution?

The record date for NEN's quarterly distribution is March 20, 2023.

What is the special distribution amount for NEN announced in March 2023?

The special one-time distribution amount for NEN is $38.40 per Class A Unit.

When will NEN's distributions be paid out?

NEN's distributions will be paid out on March 31, 2023.

What does each Depositary Receipt represent for NEN?

Each Depositary Receipt represents ownership of one-thirtieth of a Class A Partnership Unit.