Corporate Technology Centre, San Jose, CA
KBS Real Estate Investment Trust II
Closed On December 31, 2010
CASH DISTRIBUTION HISTORY*
|RECORD DATE||ANNUALIZED DISTRIBUTION RATE|
|July 16, 2008 – Dec. 2012||$0.00178082||Daily||6.5%|
|January 2013 – Dec. 2013||$0.00178082||Daily||6.5%|
|January 2014 – August 2014||$0.00178082||Daily||6.5%|
|September 2014 – December 2014||$0.13328082***||Monthly||N/A|
|January 2015 – December 2015||$0.29299998***||Monthly||5.0%|
|January 2016 – December 2016||$0.28100004***||Monthly||5.0%|
|January 2017 – December 2017||$0.27449999***||Monthly||5.0%|
|January 2018 – July 2018**||$0.14201094***||Monthly||5.0%|
|February 2013||$0.05416667||February 4, 2013|
|September 2014||$4.50000000||September 15, 2014|
*Since July 2008, KBS REIT II has paid distributions on a monthly basis. For the periods from July 2008 through August 2014, distributions were calculated based on stockholders of record each day during the period at a daily rate of $0.00178082 per share per day and equaled a daily amount that, if paid each day for a 365-day period, equaled a 6.5% annualized rate based on the primary offering purchase price of $10.00 per share in the REIT’s now-terminated primary initial public offering. Subsequent to monthly distribution payments in September, October, November and December 2014, for the periods from December 2014 through December 2015, distributions have been calculated based on stockholders of record on monthly record dates and equaled a monthly amount that, if paid each month for a 12-month period, would equal a 5.0% annualized rate based on KBS REIT II’s estimated value per share of $5.86. For the periods from January 2016 through December 2016, distributions have been calculated based on stockholders of record on monthly record dates and equaled a monthly amount that, if paid each month for a 12-month period, would equal a 5.0% annualized rate based on KBS REIT II’s current estimated value per share of $5.62. There is no assurance that KBS REIT II will continue to declare and pay distributions at this rate and KBS REIT II may modify the rate at its discretion. KBS REIT II’s cash flow from operations has decreased and will continue to decrease as a result of its disposition activity, and REIT has adjusted its distribution policy with respect to the amount of monthly distribution payments to take into account its disposition activity and current real estate investments.
Distributions paid through September 30, 2016, consisting of 58% paid in cash and 42% reinvested through the dividend reinvestment plan, have been funded with 86% from operating cash flows, 5% from debt financing, 5% from the proceeds from the sales of real estate properties and the repayment or sale of real estate loans receivables and 4% from cash on hand.
**As of May 8, 2018, distributions for May through July 2018 had been declared and the REIT expects to pay them on or about the first business day of the following month.
***Represents the total distribution per share for the period.