Plymouth REIT Increases Quarterly Common Stock Dividend by 4.8% and Declares Dividend for the First Quarter of 2022

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BOSTON--(BUSINESS WIRE)-- Plymouth Industrial REIT, Inc. (NYSE: PLYM) (the “Company”) today announced that its board of directors has declared a 4.8% increase in the Company’s regular quarterly cash dividend to $0.22 per share of common stock, effective for the first quarter of 2022. The dividend, which equates to an annualized rate of $0.88 per common share, is payable on April 29, 2022, to stockholders of record as of the close of business on March 31, 2022.

Jeff Witherell, Chairman and Chief Executive Officer of Plymouth, noted, “The continued growth in our portfolio, as evidenced by the previously announced strong fourth quarter leasing, acquisition and capital markets activity, enabled us to increase our quarterly dividend for the second straight year.”

About Plymouth

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant industrial properties, including distribution centers, warehouses, light industrial and small bay industrial properties, located in primary and secondary markets within the main industrial, distribution and logistics corridors of the United States.

Forward-Looking Statements

This press release includes “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, including, without limitation, statements regarding management's plans, objectives and strategies, constitute forward-looking statements. Such forward-looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statement, many of which may be beyond our control. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Tripp Sullivan
SCR Partners
(615) 942-7077
TSullivan@scr-ir.com

Source: Plymouth Industrial REIT, Inc.

Released February 16, 2022