Franklin Street Properties Suspends Payment Of Quarterly Dividends; Co. Estimates That Suspension Of The Dividend Will Preserve ~ $4.1M In Cash On An Annualized Basis

The Company is today announcing that the Board of Directors has determined to suspend the payment of quarterly dividends. The Board did so in part to support the Company's efforts to reduce operating expenses and to redeploy that capital into leasing efforts intended to enhance the value of our portfolio.

The Company estimates that suspension of the dividend will preserve approximately $4.1 million in cash on an annualized basis. The Board and the Company will reassess, on a quarterly basis, when and if quarterly dividend payments can be reinstated.