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8-K - ONE LIBERTY PROPERTIES INC | v172295_8k.htm |
EXHIBIT
99.1
ONE
LIBERTY PROPERTIES, INC.
60 Cutter
Mill Road
Suite
303
Great
Neck, New York 11021
Telephone
(516) 466-3100
Telecopier
(516) 466-3132
www.onelibertyproperties.com
ONE
LIBERTY PROPERTIES, INC.
ANNOUNCES
RESULTS OF DIVIDEND ELECTIONS
Great
Neck, New York – January 26, 2010 – One Liberty Properties, Inc. (NYSE:
OLP) announced the results of its stockholders’ elections relating to
its quarterly dividend of $.22 per share, payable on January 25, 2010 to record
holders on December 22, 2009.
The terms
of the dividend, including the ability of stockholders to elect to receive the
distribution in the form of cash or shares of One Liberty’s common stock, and a
limitation on the aggregate amount of cash to be paid in the distribution, were
described in detail in the prospectus supplement, dated December 22, 2009, and
filed with the Securities and Exchange Commission on December 22, 2009. The
elections were required to be submitted prior to 5:00 p.m. (Eastern Time) on
January 13, 2010.
Based on
stockholder elections, the dividend will consist of approximately $245,600 in
cash and 216,455 shares of One Liberty’s common stock. The number of shares
included in the distribution is calculated based on $10.2046, the volume
weighted average price per share of One Liberty’s common stock on the New York
Stock Exchange on January 13, 14 and 15, 2010. Summarized results of
the dividend elections are as follows:
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To
stockholders electing to receive the dividend in cash, One Liberty will
pay the dividend in the form of $.0489338 per share in cash and
$.1710662 per share in stock.
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One
Liberty will pay the dividend in shares of its common stock to all other
stockholders.
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One
Liberty will pay fractional shares in
cash.
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The
dividend (whether received in cash, stock, or a combination thereof) will be
treated for Federal income tax purposes as a cash dividend attributable to 2009,
allowing One Liberty to satisfy its real estate investment trust distribution
requirements while preserving cash for other corporate purposes.
For
stockholders whose shares are held through a bank, broker or nominee, questions
regarding the dividend should be directed to the bank, broker or
nominee. For registered stockholders, questions regarding the
dividend should be directed to One Liberty’s transfer agent: Shareholder
Services at American Stock Transfer and Trust Company at (718) 921-8200 or toll
free at 1-800-937-5449.
One
Liberty Properties is a real estate investment trust and invests primarily in
improved commercial real estate under long term net lease.
Certain
information contained in this press release, together with other statements and
information publicly disseminated by One Liberty Properties, Inc. is forward
looking within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities and Exchange Act of 1934, as
amended. We intend such forward looking statements to be covered by
the safe harbor provision for forward looking statements contained in the
Private Securities Litigation Reform Act of 1995 and include this statement for
the purpose of complying with these safe harbor
provisions. Information regarding certain important factors that
could cause actual outcomes or other events to differ materially from any such
forward looking statements appear in the Company's filings with the Securities
and Exchange Commission. You should not rely on forward looking
statements since they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond our control and which could materially
affect actual results, performance or achievements.
Contact:
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David
W. Kalish
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(516) 466-3100