The RMR Group Inc. (RMR) will pay a special dividend of $7.00 per share. The company last raised its quarterly dividend by 8.6 percent to $0.38 per share in 2019. This followed a 40.0 percent increase in 2018 and at the time marked the second consecutive year of higher dividends paid by the holding company. Based on the current number of shares outstanding, the special cash dividend is expected to result in an aggregate distribution of approximately $220 million.

The special dividend will be paid to RMR’s shareholders of record as of the close of business on September 6, 2021 and distributed on or about September 16, 2021. The special dividend alone yields 15.8% at a stock price of $44.30 for RMR. The regular quarterly dividend yields 3.4%.

Adam Portnoy, RMR President and Chief Executive Officer, made the following statement: “Returning excess capital to shareholders in the form of this $7.00 per share special dividend is a key component of RMR’s capital allocation strategy and reflects our strong financial position and confidence in the company’s financial future. Following this distribution, our cash balance remains robust and continues to afford us the flexibility to expand our business both through acquisitions and organic growth.”

The RMR Group Inc. is a holding company, and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies. RMR  segments include RMR LLC and All Other Operations. RMR LLC provides management services to four publicly traded real estate investment trusts (REITs): Diversified Healthcare Trust (DHC), which owns medical office and life science properties, senior living communities and wellness centers; Industrial Logistics Properties Trust (ILPT), which owns and leases industrial and logistics properties; Office Properties Income Trust (OPI), which owns office properties primarily leased to single tenants and those with credit characteristics, including the government; and Service Properties Trust (SVC), which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties.