Attached files
| file | filename |
|---|---|
| 8-K - UNITED DEVELOPMENT FUNDING IV 8-K - United Development Funding IV | form8-k.htm |
Press
Release
Contact:
Denise
Cason, Director
UDF
Investor
Relations
United Development Funding
(972)
889-7323
1301 Municipal Way Suite 100
www.udfonline.com
Grapevine, TX 76051
For Immediate Release
UNITED
DEVELOPMENT FUNDING IV ANNOUNCES
FIRST
QUARTER ANNUALIZED DISTRIBUTION RATE OF 8.0%
Board
of Trustees sets cash distribution to shareholders
for
the new public, non-listed offering through March 31, 2010.
Grapevine,
TX – January 4, 2010 –
On
December 28, 2009, the Board of Trustees of United Development Funding IV, a
Maryland real estate investment trust, authorized cash distributions to its
shareholders at an annualized rate of 8.0% per share with respect to each day of
the period commencing on December 18, 2009 and ending on March 31,
2010.
The
distributions will be calculated based on the number of days each shareholder
has been a shareholder of record based on 365 days in the calendar year, and
will be equal to $0.0043836 per common share of beneficial interest, which is
equal to an annualized distribution rate of 8.0%, assuming a purchase price of
$20.00 per share. These distributions will be aggregated and paid in cash
monthly in arrears. Therefore, the distributions declared for each record date
in the December 2009, January 2010, February 2010 and March 2010 periods will be
paid in January 2010, February 2010, March 2010 and April 2010,
respectively. Distributions will be paid on or about the 25th day
of the respective month or, if the 25th day
of the month falls on a weekend or bank holiday, on the next business day
following the 25th day
of the month. Distributions for shareholders participating in United
Development Funding IV’s Distribution Reinvestment Plan will be reinvested into
shares of United Development Funding IV on the payment date of each
distribution.
United
Development Funding IV is a newly organized Maryland real estate investment
trust that is seeking to raise up to $700 million in equity and was formed to
generate current interest income by investing in secured loans and producing
profits from investments in residential real estate.
This
release contains forward-looking statements (under Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended) relating to the business and financial outlook
of United Development Funding IV that are based on our current expectations,
estimates, forecasts and projections and are not guarantees of future
performance. Actual results may differ materially from those expressed in these
forward-looking statements, and you should not place undue reliance on any such
statements. A number of important factors could cause actual results to differ
materially from the forward-looking statements contained in this release. Such
factors include those described in the Risk Factors sections of the offering
documents for the offering of shares of United Development Funding IV, as
well as the risk factors detailed from time to time in our periodic reports, as
filed with the Securities and Exchange Commission. Forward-looking statements in
this document speak only as of the date on which such statements were made, and
we undertake no obligation to update any such statements that may become untrue
because of subsequent events. We claim the safe harbor protection for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995.
THIS IS NEITHER AN OFFER TO SELL NOR
AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. OFFERINGS ARE MADE ONLY BY
MEANS OF A PROSPECTUS.
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