UPDATE – CTO Realty Growth declares quarterly dividends for the third quarter of 2021
DAYTONA BEACH, Fla., August 23, 2021 (GLOBE NEWSWIRE) – CTO Realty Growth, Inc. (NYSE: CTO) (the “Company” or “CTO”) today announced that its board of directors has authorized, and The Company declared a quarterly cash dividend of $ 1.00 per common share for the third quarter of 2021. The dividend is payable on September 30, 2021 to shareholders of record at the close of business on September 9, 2021. Third quarter of 2021 The cash dividend represents an annualized return of approximately 7.4% based on the closing price of the common share on August 20, 2021.
The board of directors has also authorized, and the company has declared, a pro-rated quarterly cash dividend of $ 0.37630 per share of the Company’s 6.375% cumulative redeemable series A preferred shares, payable on September 30, 2021. to shareholders of record on September 9, 2021.
About CTO Realty Growth, Inc.
CTO Realty Growth, Inc. is a publicly traded real estate investment trust that owns and operates a portfolio of high quality commercial properties located primarily in high growth markets in the United States. CTO also owns an approximate 16% interest in Alpine Income Property Trust, Inc. (NYSE: PINE), a publicly traded net leasehold REIT.
We encourage you to review our most recent investor presentation, which is available on our website at www.ctoreit.com.
Certain statements 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 generally be identified by words such as “believe”, “estimate”, “expect”, “intend”, “anticipate”, “will”, “could”, “could” , “Should”, “,” potential “,” predict “,” foresee “,” project “and similar expressions, as well as variations or negatives of these words.
Although forward-looking statements are made on the basis of current expectations and reasonable beliefs of management regarding future developments and their potential effect on the Company, a number of factors could cause the actual results of the Company to differ materially. those set forth in forward-looking statements. These factors may include, but are not limited to: the Company’s ability to continue to qualify as a REIT; the Company’s exposure to changes in US federal and state tax laws, including changes in REIT requirements; generally unfavorable economic and real estate conditions; the geographic spread, severity and ultimate duration of pandemics such as the recent outbreak of the novel coronavirus, measures that can be taken by government authorities to contain or address the impact of these pandemics, and the potential negative impacts of these pandemics on the global economy and the Company’s financial condition and results of operations; the inability of major tenants to continue paying rent or obligations due to bankruptcy, insolvency or a general downturn in their business; the loss or failure, or decline of the business or assets of PINE or the business formed when the Company sold its controlling interest in the entity that held the remaining land portfolio of the Company, of which the Company retained an interest; the completion of 1,031 exchange transactions; the availability of investment properties that meet the Company’s investment objectives and criteria; uncertainties associated with obtaining required government permits and meeting 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 year ended December 31, 2020 and other risks and uncertainties discussed from time to time in documents filed by the Company with the United States Securities and Exchange Commission.
There can be no assurance that future developments will be consistent with management’s expectations or that the effects 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 makes no commitment to update the information contained in this press release to reflect subsequent events or circumstances.
Matthew M. Partridge