ACRES Commercial Realty Corp. Declares Quarterly Cash Dividends for its Preferred Stock

Rhea-AI Summary

ACRES Commercial Realty Corp. (NYSE: ACR) has announced cash dividends for its Preferred Stock. Shareholders will receive $0.5390625 per share for the 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, and $0.4921875 for the 7.875% Series D Cumulative Redeemable Preferred Stock. Both dividends are payable on November 1, 2021, to holders of record as of October 1, 2021. This move reflects the company's ongoing commitment to returning value to its shareholders in the commercial real estate sector.

Positive

• Cash dividend of $0.5390625 per share for Series C Preferred Stock.
• Cash dividend of $0.4921875 per share for Series D Preferred Stock.
• Dividends demonstrate commitment to shareholder returns.

Negative

• None.

WESTBURY, N.Y., Sept. 20, 2021 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) (the "Company") announced today that its Board of Directors declared cash dividends on its Preferred Stock.

The Company will pay a cash dividend on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock in the amount of $0.5390625 per share. The dividend will be paid on November 1, 2021, to holders of record on October 1, 2021.

The Company will also pay a cash dividend on its 7.875% Series D Cumulative Redeemable Preferred Stock in the amount of $0.4921875 per share. The dividend will be payable on November 1, 2021, to holders of record on October 1, 2021.

About ACRES Commercial Realty Corp.

ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and other commercial real estate-related debt investments. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market CRE lending with a focus on multifamily, student housing, hospitality, industrial and office property in top U.S. markets. For more information, please visit the Company's website at www.acresreit.com or contact investor relations at IR@acresreit.com.

Forward-Looking Statements

This press release contains certain 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. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "trend," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

View original content:https://www.prnewswire.com/news-releases/acres-commercial-realty-corp-declares-quarterly-cash-dividends-for-its-preferred-stock-301380787.html

SOURCE ACRES Commercial Realty Corp.

FAQ

What are the dividend amounts declared by ACRES Commercial Realty Corp.?

ACRES Commercial Realty Corp. declared a cash dividend of $0.5390625 for the 8.625% Series C Preferred Stock and $0.4921875 for the 7.875% Series D Preferred Stock.

When will ACRES Commercial Realty Corp. pay its dividends?

The dividends will be paid on November 1, 2021, to shareholders on record as of October 1, 2021.

What is the significance of the dividends for ACRES stockholders?

The dividends indicate ACRES Commercial Realty Corp.'s commitment to providing returns to its shareholders, reflecting the company's financial stability.