[January 18, 2019]

Tremont Mortgage Trust Announces its First Dividend on Common Shares

Tremont Mortgage Trust (Nasdaq: TRMT) today announced its first distribution on its common shares of $0.11 per common share. This first distribution is a partial distribution considering the timing of the closings of the seven investments made to date. TRMT expects to declare and pay a full distribution to common shareholders of $0.20 to $0.24 per common share beginning in the second quarter of 2019, after the anticipated closing of its three pending investments in the first quarter of 2019. The distribution declared today will be paid to TRMT's common shareholders of record as of the close of business on January 28, 2019 and distributed on or about February 21, 2019.

Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that focuses primarily on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. TRMT is managed by Tremont Realty Advisors LLC, an SEC (News - Alert) registered investment adviser and an indirect subsidiary of The RMR Group Inc.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON TRMT'S PRESENT BELIEFS AND EXPECTTIONS, BUT THESE STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND TRMT'S CONTROL. FOR EXAMPLE:

• THIS PRESS RELEASE STATES THAT TRMT ANNOUNCED A DIVIDEND OF $0.11/SHARE, AND THAT THIS DIVIDEND IS LESS THAN TRMT'S FULL DIVIDEND OF $0.20 to $0.24 PER SHARE THAT TRMT EXPECTS TO DECLARE AND PAY BEGINNING IN THE SECOND QUARTER OF 2019, AFTER THE ANTICIPATED CLOSING OF ITS THREE PENDING INVESTMENTS IN THE FIRST QUARTER OF 2019. A POSSIBLE IMPLICATION OF THESE STATEMENTS IS THAT TRMT WILL CONTINUOUSLY PAY QUARTERLY DIVIDENDS OF CERTAIN AMOUNTS IN THE FUTURE. TRMT'S DIVIDENDS ARE SET AND RESET FROM TIME TO TIME BY TRMT'S BOARD OF TRUSTEES. TRMT MAY BE UNABLE TO CLOSE ITS THREE PENDING INVESTMENTS IN THE FIRST QUARTER OF 2019, OR AT ALL, AND THE TIMING FOR ANY FUTURE ALTERNATIVE OR ADDITIONAL INVESTMENTS IS UNCERTAIN. AS A RESULT, TRMT MAY NOT DECLARE A DIVIDEND OF $0.20 to $0.24 PER COMMON SHARE IN THE SECOND QUARTER OF 2019, OR THEREAFTER. THE TRMT BOARD CONSIDERS MANY FACTORS WHEN DETERMINING WHETHER TO DECLARE DIVIDENDS, INCLUDING TRMT'S HISTORICAL AND PROJECTED INCOME, CORE EARNINGS, THE THEN CURRENT AND EXPECTED NEEDS AND AVAILABILITY OF CASH TO PAY TRMT'S OBLIGATIONS AND FUND ITS INVESTMENTS, DISTRIBUTIONS WHICH MAY BE REQUIRED TO BE PAID BY TRMT TO QUALIFY FOR TAXATION AS A REAL ESTATE INVESTMENT TRUST AND OTHER FACTORS DEEMED RELEVANT BY TRMT'S BOARD OF TRUSTEES IN ITS DISCRETION. ACCORDINGLY, FUTURE DIVIDENDS MAY BE INCREASED OR DECREASED AND THERE IS NO ASSURANCE AS TO THE RATE AT WHICH FUTURE DIVIDENDS WILL BE PAID, AND THEY COULD DECLINE IN AMOUNT OR BE SUSPENDED OR DISCONTINUED.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING STATEMENTS IN THIS PRESS RELEASE. EXCEPT AS REQUIRED BY LAW, TRMT DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190118005040/en/

[ Back To TMCnet.com's Homepage ]