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KBS Strategic Opportunity REIT to pay special dividend from portfolio sale

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KBS Strategic Opportunity REIT to pay special dividend from portfolio sale

KBS Strategic Opportunity REIT Inc. is paying a special dividend of $3.61 per share following the sale of 11 of its properties to newly minted Singapore real estate investment trust Keppel-KBS US REIT.

As a result of the taxable income generated from the sale, the company said it is doling out the dividend to maintain its REIT status.

The company will pay the special dividend in mid-January 2018 to stockholders of record as of Dec. 7. Shareholders may opt to receive the dividend in 100% stock or 100% cash.