New Wells REIT to Pay 2.5% Annualized Dividend for Q1

ATLANTA-Striving to duplicate or surpass the success of its first REIT launched in 1998, locally based Wells Real Estate Investment Trust II tells shareholders the company will be paying a first-quarter annualized dividend of 2.5% in March.

Launched Dec. 2, 2003, privately held Wells REIT II’s initial public offering of 600 million is selling common stock at $10 per share, with discounts available for certain categories of investors. The REIT also is offering up to 185 million shares at $9.95 per share under its dividend reinvestment plan (DRIP). The stock is not publicly traded.

“With this (new) REIT, we intend to continue acquiring high-quality properties and securing long-term leases with creditworthy tenants so that we can continue to provide our REIT investors with solid dividend income,” says Leo F. Wells III, the company’s president and founder.