BRT Apartments Corp. announces the start of a dividend
GREAT NECK, NY, June 15, 2022 (GLOBE NEWSWIRE) — BRT Apartments Corp. (NYSE: BRT) today announced that its shareholders will have the opportunity to participate in its dividend reinvestment plan (the “Plan”). BRT’s board of directors adopted the plan to provide shareholders of record on the applicable record date with the ability to designate some or all of the cash dividends they are entitled to receive on their common stock for reinvestment in additional shares of the company’s common stock.
Initially, BRT will issue the shares under the Plan directly at a 3% discount to the trading price of BRT common stock, at the price determined pursuant to the Plan and without incurring brokerage fees or commissions. The maximum number of common shares issuable under the plan is 350,000 shares and the plan will be in effect until suspended or terminated by the Board of Directors.
Participation in the Plan is optional; shareholders who choose not to participate in the plan will receive a cash dividend. Dividends are only payable when declared by the Board of Directors.
As recently announced, on June 8, 2022, the Company’s Board of Directors declared a cash dividend of $0.25 per share to be paid on July 8, 2022 to shareholders of record at the close of business on June 30, 2022. Shareholders must enroll in the Plan by 5:00 p.m. (ET) on the record date for such dividends in order to be eligible to participate in the Plan.
The Plan will be administered through the Company’s stock transfer agent, American Stock Transfer & Trust Company (“AST”). Shareholders and others may obtain registration forms by contacting AST at 888-888-0144 or online through www.astfinancial.com. Shareholders may also register by completing a registration form and mailing it to American Stock Transfer & Trust Company, LLC, PO Box 922, Wall Street Station, New York, New York 10269-0560, Attn : Map Administration Department. To participate in the Plan, for this dividend or for any future dividend, if any, eligible shareholders must complete and submit an enrollment form by 5:00 p.m. (ET) on the applicable record date.
Shareholders should review the plan’s prospectus before enrolling. Copies of the plan’s prospectus are available online at AST’s website, https://us.astfinancial.com/InvestOnline/Invest/AllPlan, or by calling AST at 888-888-0144.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The offering is being made only by means of the plan’s prospectus, which has been filed with the Securities and Exchange Commission and is available on the Securities and Exchange Commission’s website at www.sec.gov.
Certain information contained herein is forward-looking 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. BRT intends that these forward-looking statements are covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for the purposes of complying with such safe harbor provisions. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by the use of the words “may”, “will”, “probably result”, “believe”, “expect to, “intend”, “anticipate”, “estimate”, “project”, “apparent”, “experiment” or similar expressions or variations thereof. Investors are cautioned not to place undue reliance on forward-looking statements and to carefully read the sections entitled “Risk Factors”, “Cautions Regarding Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results”. of Operations” in BRT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other reports it subsequently files with the SEC. You should not rely on forward-looking statements as they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performance or achievements. .
About BRT Apartments Corp:
BRT is a real estate investment trust that owns, operates and, to a lesser extent, develops multi-family properties. Additional information about BRT, its operations and its portfolio can be found on BRT’s website at: http://brtapartments.com. For additional information, interested parties are encouraged to review BRT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other reports subsequently filed with the Securities and Exchange Commission.
BRT APARTMENTS CORP.
60 Cutter Mill Road
Big Neck, New York 11021
Phone (516) 466-3100
Fax (516) 466-3132