RMR Funds Announce First Quarter 2009 Distributions
March 26 2009 - 4:05PM
Business Wire
RMR Funds today announced the first quarter 2009 distributions
to their common shareholders for the following funds:
- RMR Real Estate Fund (NYSE Amex:
RMR)
- RMR Hospitality and Real Estate
Fund (NYSE Amex: RHR)
- RMR F.I.R.E. Fund (NYSE Amex:
RFR)
- RMR Preferred Dividend Fund
(NYSE Amex: RDR)
� � Amount Per Share
Record Date
Pay Date*
RMR �
RHR �
RFR �
RDR 04/06/2009 4/20/2009 $ 0.07 $ 0.05 $ 0.02 $ 0.02
*On or about.
RMR Funds also announced that the RMR Dividend Capture Fund
(NYSE Amex: RCR) will not pay a quarterly dividend for the period
ending March 31, 2009.
As previously announced, each of the above listed funds has
recently filed a preliminary joint proxy and registration
statement/prospectus with the U.S. Securities and Exchange
Commission with respect to the proposed reorganization of each of
RMR, RHR, RFR, RDR and RCR into a newly formed closed end fund, the
RMR Real Estate Income Fund. If shareholders of the funds approve
the reorganizations and the reorganizations are completed, each
fund may make a final distribution to shareholders consisting of
any undistributed income immediately prior to the proposed
reorganizations. These funds currently expect to complete these
reorganizations before June 30, 2009. However, the process of
completing the proposed reorganizations may take longer than
expected and each fund�s reorganization with the new fund may not
occur if the respective concerned shareholders do not approve the
reorganizations or for various other reasons. The respective funds
will consider the dividend policies of the respective funds or the
new fund when the results of the shareholder votes are known and
announcements regarding future dividends will be made at that
time.
RMR, RHR, RFR and RDR have substantial investments in real
estate investment trusts. Because real estate investment trusts
generally classify distributions to each fund subsequent to the end
of each calendar year as ordinary income, net capital gain or
return of capital, it is expected that some portion of the
distribution declared by each fund may be similarly characterized
for tax purposes subsequent to this year end.
This press release is not intended to, and shall not, constitute
an offer to purchase or sell shares of any of the affected funds,
including RMR Real Estate Income Fund (�New RMR�); nor is this
press release intended to solicit a proxy from any shareholder of
any of the affected funds. The solicitation of the purchase or sale
of securities or of proxies to effect each fund reorganization may
only be made by a final, effective Registration Statement, which
includes a definitive Joint Proxy Statement/Prospectus, after the
Registration Statement is declared effective by the SEC.
Additional Information About
the Proposed Fund Reorganizations and Where to Find
It:
The Registration Statement, which includes a Joint Proxy
Statement/Prospectus, filed by New RMR, RMR, RHR, RFR, RDR and RCR,
may be amended or withdrawn and it will not be distributed to
shareholders of the affected funds unless and until it is declared
effective by the SEC.
The funds and their respective trustees, officers and employees,
and the funds� investment advisor, RMR Advisors, Inc. (�Advisor�),
and its shareholders, officers and employees and other persons may
be deemed to be participants in the solicitation of proxies with
respect to these proposed reorganizations. Investors and
shareholders may obtain more detailed information regarding the
direct and indirect interests of the funds� respective trustees,
officers and employees, and the Advisor�s shareholders, officers
and employees and other persons by reading the preliminary and
definitive Joint Proxy Statement/Prospectus regarding the proposed
reorganizations, filed with the U.S. Securities and Exchange
Commission (the �SEC�), when they become available.
The Registration Statement of New RMR has not yet become
effective, and the information contained therein, including
information in the preliminary Joint Proxy Statement/Prospectus, is
not complete and is subject to change. INVESTORS AND SECURITY
HOLDERS OF THE FUNDS ARE URGED TO READ THE JOINT PROXY
STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED FUND
REORGANIZATIONS. INVESTORS SHOULD CONSIDER THE INVESTMENT
OBJECTIVES, RISKS AND CHARGES AND EXPENSES OF THE FUNDS CAREFULLY.
THE JOINT PROXY STATEMENT/PROSPECTUS WILL CONTAIN THE INVESTMENT
OBJECTIVES, RISKS AND CHARGES AND EXPENSES AND OTHER IMPORTANT
INFORMATION ABOUT THE FUNDS. New RMR may not sell securities until
its Registration Statement filed with the SEC is effective. The
Joint Proxy Statement/Prospectus is not an offer to sell
securities, nor is it soliciting an offer to buy securities, in any
state where such offer or sale is not permitted.
Investors may obtain free copies of the Registration Statement
and Joint Proxy Statement/Prospectus and other documents (when they
become available) filed with the SEC at the SEC�s web site at
www.sec.gov. In addition, free copies of the Joint Proxy
Statement/Prospectus and other documents filed with the SEC may
also be obtained after the Registration Statement becomes effective
by directing a request to: RMR Advisors, Inc., 400 Centre Street,
Newton, MA, 02458 or by calling: (617) 796-8253.
WARNINGS REGARDING FORWARD LOOKING
STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER FEDERAL SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS
ARE BASED UPON THE PRESENT BELIEFS AND EXPECTATIONS OF THE FUNDS
IDENTIFIED IN THIS PRESS RELEASE. HOWEVER, THESE FORWARD LOOKING
STATEMENTS AND THEIR IMPLICATIONS ARE NOT GUARANTEED TO OCCUR AND
THEY MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND
THE CONTROL OF THE AFFECTED FUNDS. FOR EXAMPLE: THIS PRESS RELEASE
STATES THAT A PRELIMINARY JOINT PROXY AND REGISTRATION
STATEMENT/PROSPECTUS HAS BEEN FILED WITH THE SEC WITH RESPECT TO
PROPOSED FUND REORGANIZATIONS. THE IMPLICATION OF THIS STATEMENT IS
THAT THESE FUNDS MAY BE REORGANIZED BY COMBINING TOGETHER. IN FACT,
THESE REORGANIZATIONS MAY NOT OCCUR FOR VARIOUS REASONS INCLUDING:
(I) BECAUSE OF CHANGED CIRCUMSTANCES, THESE BOARDS OR CERTAIN OF
THEM MAY DECIDE NOT TO PROCEED WITH THESE REORGANIZATIONS; OR (II)
THE SHAREHOLDERS OF ONE OR MORE OF THESE FUNDS MAY NOT APPROVE
THESE REORGANIZATIONS.
FOR THESE AND OTHER REASONS INVESTORS SHOULD NOT PLACE UNDUE
RELIANCE UPON FORWARD LOOKING STATEMENTS.
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