New England Realty Associates LP Announces Second-Quarter Distribution on Class A Units and Depositary Receipts

Rhea-AI Summary

New England Realty Associates Partnership (NYSE MKT: NEN) has announced its quarterly distribution for Q2. The company will distribute $12.00 per Class A Partnership Unit and $0.40 per Depositary Receipt. The distribution will be made on December 31, 2024, to shareholders of record as of December 16, 2024. Each Depositary Receipt represents one-thirtieth ownership of a Class A Partnership Unit and trades on NYSE MKT under the symbol 'NEN'.

Positive

• Maintaining consistent quarterly distribution to shareholders
• $12.00 per Unit distribution demonstrates strong cash flow generation

Negative

• None.

Insights

Financial Analyst

The announced quarterly distribution demonstrates New England Realty Associates' consistent dividend policy, with $12.00 per Class A Unit and $0.40 per Depositary Receipt. The 30:1 ratio between Unit and Receipt distributions maintains the established structure where each Depositary Receipt represents 1/30th of a Class A Partnership Unit. For investors, this translates to an annualized distribution of $48.00 per Unit or $1.60 per Depositary Receipt. Given the current market cap of $277.2M, this distribution reflects the company's commitment to returning value to unitholders through regular cash payments.

ALLSTON, Mass., Nov. 11, 2024 /PRNewswire/ -- On December 31, 2024, 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 December 16, 2024.  The quarterly distribution per Class A Limited Partnership Unit will be $12.00 per Unit.  The quarterly distribution per Depositary Receipt will be $0.40.  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".

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SOURCE New England Realty Associates Limited Partnership

FAQ

What is New England Realty Associates (NEN) Q2 2024 distribution amount?

New England Realty Associates will distribute $12.00 per Class A Partnership Unit and $0.40 per Depositary Receipt.

When is the record date for NEN's Q2 2024 distribution?

The record date for New England Realty Associates' Q2 2024 distribution is December 16, 2024.

When will NEN pay its Q2 2024 distribution?

New England Realty Associates will pay its Q2 2024 distribution on December 31, 2024.

What is the conversion ratio between NEN's Depositary Receipts and Class A Units?

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