CTO Realty Growth Declares Quarterly Dividend for the Second Quarter 2021
28 Avril 2021 - 10:05PM
CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”)
announced today that its Board of Directors has authorized, and the
Company has declared a quarterly cash dividend of $1.00 per share
of common stock for the second quarter of 2021. The dividend is
payable on June 30, 2021 to stockholders of record as of the close
of business on June 21, 2021. The 2021 second quarter cash dividend
represents an annualized yield of approximately 7.6% based on the
closing price of the common stock on April 27, 2021.
About CTO Realty Growth,
Inc.
CTO Realty Growth, Inc. is a publicly traded
diversified real estate investment trust that owns and operates a
diversified portfolio of income properties comprising approximately
2.8 million square feet in the United States. CTO also owns an
approximate 22.3% interest in Alpine Income Property Trust, Inc., a
publicly traded net lease real estate investment trust (NYSE:
PINE).
We encourage you to review our most recent
investor presentation, which is available on our website at
www.ctoreit.com.
Safe Harbor
Certain statements contained in this press
release (other than statements of historical fact) are
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. Forward-looking
statements can typically be identified by words such as “believe,”
“estimate,” “expect,” “intend,” “anticipate,” “will,” “could,”
“may,” “should,” “plan,” “potential,” “predict,” “forecast,”
“project,” and similar expressions, as well as variations or
negatives of these words.
Although forward-looking statements are made
based upon management’s present expectations and reasonable beliefs
concerning future developments and their potential effect upon the
Company, a number of factors could cause the Company’s actual
results to differ materially from those set forth in the
forward-looking statements. Such factors may include, but are not
limited to: the Company’s ability to remain qualified as a REIT;
the Company’s exposure to U.S. federal and state income tax law
changes, including changes to the REIT requirements; general
adverse economic and real estate conditions; the ultimate
geographic spread, severity and duration of pandemics such as the
recent outbreak of the novel coronavirus, actions that may be taken
by governmental authorities to contain or address the impact of
such pandemics, and the potential negative impacts of such
pandemics on the global economy and the Company’s financial
condition and results of operations; the inability of major tenants
to continue paying their rent or obligations due to bankruptcy,
insolvency or a general downturn in their business; the loss or
failure, or decline in the business or assets of PINE or the
venture formed when the Company sold its controlling interest in
the entity that owned the Company’s remaining land portfolio, of
which the Company has a retained interest; the completion of 1031
exchange transactions; the availability of investment properties
that meet the Company’s investment goals and criteria; the
uncertainties associated with obtaining required governmental
permits and satisfying other closing conditions for planned
acquisitions and sales; and the uncertainties and risk factors
discussed in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2020, as filed with the Securities
and Exchange Commission.
There can be no assurance that future
developments will be in accordance with management’s expectations
or that the effect of future developments on the Company will be
those anticipated by management. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The Company undertakes
no obligation to update the information contained in this press
release to reflect subsequently occurring events or
circumstances.
Contact: |
Matthew M. Partridge Senior Vice President, Chief Financial Officer
and Treasurer (386) 944-5643 mpartridge@ctoreit.com |
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