FSP · 10-Q · 2026Q1 · Full report

Capital Return Program

FRANKLIN STREET PROPERTIES CORP /MA/ · 2026-04-28 · Importance 77 · Surprise 82

In March 2026 the Board determined to suspend quarterly cash dividends in order to redeploy capital into leasing efforts intended to enhance portfolio value; the Company paid $1.0 million of distributions to stockholders during the three months ended March 31, 2026. The Credit Agreement also restricts dividend declarations to no more than the greater of $0.01 per share or the amount required to maintain REIT status. The Company noted that any future dividend declaration will depend on results of operations, cash flows, liquidity, financial condition and capital requirements. Management positioned the suspension as a near-term allocation of cash toward leasing and portfolio value creation while the strategic review continues.

Key facts

• In March 2026, the Board of Directors determined to suspend quarterly cash dividends to redeploy capital into leasing efforts.
• The Credit Agreement provides that the Company may not declare dividends in excess of the greater of $0.01 per share or such amount as is required to maintain REIT status.

Impact estimates