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W. P. Carey & Co. LLC: W. P. Carey & Co. LLC Increases Quarterly Distributions

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  Published in Business and Finance on Thursday, September 17th 2009 at 13:13 GMT by Market Wire
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NEW YORK, NY--(Marketwire - September 17, 2009) - Investment firm W. P. Carey & Co. LLC (NYSE: [ WPC ]) announced today that its Board of Directors has increased the Company's quarterly cash distribution to $0.50 per share for the quarter ending September 30, 2009, marking the Company's 34th consecutive distribution increase. With the payment of third quarter distributions on October 15, 2009 to shareholders of record as of September 30, 2009, the W. P. Carey Group will have paid more than $3 billion in distributions since 1979 to shareholders in W. P. Carey & Co. LLC and its affiliated Corporate Property Associates (CPA®) series of income generating, non-traded REITs.

In addition, the Boards of Directors of CPA®:14, CPA®:15 and CPA®:16 - Global announced the following cash distributions for each company for the third quarter of 2009, payable on October 15, 2009 to shareholders of record as of September 30, 2009:

 -- CPA®:14's cash distribution increased to $0.1986 per share, equating to an annualized yield of 8.32%. -- CPA®:15's cash distribution increased to $0.1801 per share, equating to an annualized yield of 7.26%. -- CPA®:16 - Global's cash distribution remained at $0.1656 per share, equating to an annualized yield of 6.62%. -- CPA®:17 - Global's daily distribution for the third quarter, as announced on June 11, 2009, is $0.0017255 per share, payable to shareholders of record as of the close of business on each day during the quarter and to be paid in aggregate on October 15, 2009. This equates to an annualized yield of 6.35% on its initial public offering price of $10.00 per share. 

The Board of Directors of CPA®:17 - Global also announced an increase to the fourth quarter 2009 distribution rate, which equates to an annualized yield of 6.40% on its initial public offering price of $10.00 per share. The daily distribution rate of $0.00173913 per share is payable to shareholders of record as of the close of business on each day during the quarter and will be paid in aggregate on or about January 15, 2010.

W. P. Carey & Co. LLC

W. P. Carey & Co. LLC is an investment management company that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and manages a global investment portfolio approaching $10 billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey and its CPA® series of income-generating, non-traded REITs help companies and private equity firms unlock capital tied up in real estate assets. The W. P. Carey Group's investments are highly diversified, comprising contractual agreements with approximately 300 long-term corporate obligors spanning 28 industries and 15 countries. [ http://www.wpcarey.com ]

Individuals interested in receiving future updates on W. P. Carey via e-mail can register at [ http://www.wpcarey.com/alerts ].

This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the Company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission.