United Development Funding IV (UDF IV) announced today that it intends to continue paying monthly distributions at an annualized rate of $1.64 per share. The decision was previously authorized by its board of trustees on May 28, 2014.
Distributions will be paid to shareholders of record at the close of business around the 15th day of each month and will be payable around the 25th day of the same month.
Sponsored by United Development Funding, UDF IV listed on the NASDAQ Global Select Market last week under the symbol, UDF. Formerly a non-traded REIT, UDF IV invests mainly in secured loans for the acquisition and development of land into single-family home lots, and the construction and model of new single-family homes.
This month on June 25, 2014, UDF IV will pay a distribution of $0.1367 per share to shareholders of record at the close of business as of June 16, 2014.