Landmark Announces 5th Consecutive Quarterly Cash Distribution Increase; Year Over Year Distribution Growth of 10.9%
EL SEGUNDO, Calif., April 20, 2016 (GLOBE NEWSWIRE) — Landmark Infrastructure Partners LP (the “Partnership”) (NASDAQ:LMRK) announced today that the board of directors of its general partner declared a cash distribution of $0.33 per unit, or $1.32 per unit on an annualized basis, for the quarter ended March 31, 2016. This quarter’s cash distribution, which represents a 14.8% increase over the minimum quarterly distribution and a 1.5% increase compared to the fourth quarter 2015 distribution of $0.325 per unit, marks the fifth consecutive quarter that the Partnership has increased its quarterly cash distribution since its IPO in November 2014. The distribution is payable on May 13, 2016 to unitholders of record as of May 3, 2016.
The Partnership plans to publicly release its first quarter 2016 results prior to the opening of U.S. financial markets on Thursday, May 5, 2016. Interested parties are invited to listen to a conference call hosted by management discussing the Partnership’s earnings results.
Event: Q1 2016 Landmark Infrastructure Partners LP Earnings Call
Date: Thursday, May 5, 2016
Time: 12:00 p.m. Eastern Time
Conference Call Information
U.S. and Canada: 877-930-8063
Participant Passcode: 93541985
A webcast replay will be available approximately two hours after the completion of the conference call through May 5, 2017 at http://investor.landmarkmlp.com/phoenix.zhtml?c=253802&p=irol-calendar.
An audio replay is also available through May 14, 2016.
Dial-in: 855-859-2056 or 404-537-3406
Participant Passcode: 93541985
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
About Landmark Infrastructure Partners LP
The Partnership is a growth-oriented master limited partnership formed to acquire, own and manage a portfolio of real property interests that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries. Headquartered in El Segundo, California, the Partnership’s real property interests consist of a diversified portfolio of long-term and perpetual easements, tenant lease assignments and, to a lesser extent, fee simple properties located in 49 states and the District of Columbia, entitling the Partnership to rental payments from leases on approximately 1,456 tenant sites as of December 31, 2015.
Cautionary Note Regarding Forward Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC. Any forward-looking statements in this press release are made as of the date of this press release and the Partnership undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Partnership becomes aware, after the date hereof, unless required by law.
CONTACT: CONTACT: Marcelo Choi Vice President, Investor Relations (310) 598-3173 email@example.com