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United Development Funding IV Announces New Distribution Reinvestment Plan
|By PR Newswire
|August 4, 2014 05:12 PM EDT
GRAPEVINE, Texas, Aug. 4, 2014 /PRNewswire/ -- United Development Funding IV ("UDF IV" or the "Trust") (NASDAQ: UDF) announced today that its Distribution Reinvestment Plan (the "DRIP") is open for enrollment. The DRIP provides a convenient and cost-efficient way for existing shareholders to purchase additional common shares of beneficial interest in the Trust by automatically reinvesting the cash distributions paid on their common shares without paying the Trust any selling commissions, fees or service charges. The purchase price for common shares purchased through the DRIP will be equal to the current market value of the Trust's shares as of the distribution payment date, calculated based upon the average of Trust's opening and closing prices per share on the distribution payment date, as reported by NASDAQ.
The DRIP is voluntary and shareholders can participate if they currently own the Trust's common shares and such shares are registered in their name. If shareholders own shares that are registered in another name (for example, a bank, broker or other nominee), the shareholders should contact their bank, broker or other nominee to enroll in the DRIP. If shareholders participate in the DRIP through a broker, they should confirm with their broker if additional brokerage fees apply.
Registered shareholders who enroll in the DRIP five business days prior to the record date in any given month will be able to participate in the DRIP for that month. For example, registered shareholders whose enrollment forms are submitted in good order in accordance with the DRIP by August 8, 2014, five business days prior to the August 15, 2014 record date, will have their August 25, 2014 monthly distribution reinvested in the Trust's common shares.
Eligible shareholders of record may elect to participate in the DRIP at any time by completing the enrollment form and returning it to the DRIP's administrator. Enrollment forms may be obtained by contacting United Development Funding IV Investor Services at (214) 370-8960 or (800) 859-9338, or by writing to them at 1301 Municipal Way, Suite 100, Grapevine, Texas 76051. Enrollment forms are also available online at www.udfiv.com. Participants should carefully read the prospectus describing the DRIP, which has been filed with the Securities and Exchange Commission on Post-Effective Amendment No. 1 on Form S-3 on August 4, 2014, before opting to participate.
This press release shall not constitute an offer to sell or a solicitation of offers to buy any securities. The offering is being made only by means of a prospectus. Anyone seeking a prospectus and enrollment application should visit www.udfiv.com or call (800) 859-9338 and read the prospectus carefully before making any investment decisions.
About United Development Funding IV
United Development Funding IV is a publicly traded Maryland real estate investment trust listed on The NASDAQ Global Select Market. UDF IV was formed primarily to generate current interest income by investing in secured loans and producing profits from investments in residential real estate. Additional information about UDF IV can be found on its website at www.udfiv.com. UDF IV may disseminate important information regarding its operations, including financial information, through social media platforms such as Twitter, Facebook and LinkedIn.
Important Notice Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may relate to anticipated financial performance, business prospects, outcome of regulatory proceedings, market conditions and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements included in this press release that address activities, events or developments that we expect, believe or anticipate will exist or may occur in the future, are forward-looking statements. These forward-looking statements are based on management's current intents, beliefs, expectations and assumptions and on information currently available to management that are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in these forward-looking statements. Words such as "may," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "would," "could," "should" and variations of these words and similar expressions are intended to identify forward-looking statements.
Forward-looking statements that were true at the time made may ultimately prove to be incorrect or false. We caution you not to place undue reliance on forward-looking statements, which reflect our management's view only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements made by us or on our behalf to reflect changed assumptions, the occurrence of unanticipated events or changes as a result of new information, future developments, subsequent events or circumstances or otherwise. Factors that could cause actual results to differ materially from any forward-looking statements include but are not limited to changes in general economic conditions; changes in real estate conditions; development costs that may exceed estimates; development delays; increases in interest rates or decreases in residential lot take down or purchase rates or prices; our borrowers' inability to sell residential lots; and the potential need to fund development costs not completed by the initial borrower or other capital expenditures out of operating cash flows. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and in subsequent filings with the U.S. Securities and Exchange Commission.
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SOURCE United Development Funding IV
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