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Spirit MTA REIT declares initial liquidating distribution

Spirit MTA REIT's board declared a cash liquidating distribution of $8.00 per common share.

The single-tenant net-lease real estate investment trust will make the distribution Oct. 23 to shareholders of record as of Oct. 14.

As part of its liquidation plan, the company will cease its existence and may transfer all its remaining assets and cash to a liquidating trust that will take on its remaining obligations and liabilities.

Shareholders are expected to receive total liquidating distributions closer to the middle of the REIT's previously outlined per-share range of $8.50 to $9.35, excluding applicable withholding taxes.