Strategic Storage Trust IV Suspending SRP and Changing to Monthly Distribution Authorizations
March 31, 2020
Strategic Storage Trust IV Inc. is suspending its share redemption program, effective April 29, because of the uncertainty related to the COVID-19 pandemic and its possible impact on the company’s financial results.
For the second quarter and future periods, the company also decided to change its distribution policy to monthly from quarterly authorizations to allow its board the maximum flexibility to track and assess the situation.
On March 30, 2020, the Board authorized a daily distribution rate of approximately $0.00427 per day per share on the outstanding shares of common stock payable to Class A, Class T, and Class W stockholders of record of such shares as shown on the Company’s books at the close of business on each day of the period commencing on April 1, 2020, and ending April 30, 2020.
In connection with this distribution, for the stockholders of Class T shares, after the stockholder servicing fee is paid, approximately $0.00361 per day will be paid per Class T share and for the stockholders of Class W shares, after the dealer manager servicing fee is paid, approximately $0.00396 per day will be paid per Class W share. Such distributions payable to each stockholder of record during April 2020 will be paid in May 2020.
Source: SEC
