PR Newswire | Aug 30, 2021 04:30PM EDT

Of Calendar Year 2021

08/30 15:30 CDT

Centerspace Announces 2.8% Increase To Common Distributions For The 3rd Quarter Of Calendar Year 2021 MINNEAPOLIS, Aug. 30, 2021

MINNEAPOLIS, Aug. 30, 2021 /PRNewswire/ -- NYSE: CSR. Centerspace announced today that the Board of Trustees has declared a regular quarterly distribution of $0.72 per share/unit, payable on October 11, 2021, to common shareholders and unitholders of record at the close of business on September 30, 2021. This represents a $0.02 increase over the prior distribution and the first increase in over 10 years. "The Board and Management are committed to responsible capital allocation; we are pleased to be positioned to grow our distribution after a five-year transition to a focused owner-operator of apartment homes," said Mark O. Decker Jr., President and CEO.

The Board of Trustees also declared a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: CSR PRC), payable on September 30, 2021, to holders of record at the close of business on September 15, 2021. Series C preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.65625 per share.

About CenterspaceCenterspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, the company currently owns 62 apartment communities consisting of 11,579 homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota. Centerspace was named a Top Workplace for 2021 by theMinneapolis Star Tribune. For more information, please visitwww.centerspacehomes.com.

If you would like more information about this topic, please contact Emily Miller, Investor Relations, at (701) 837-7104 or IR@centerspacehomes.com.

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SOURCE Centerspace