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

Rhea-AI Summary

ACRES Commercial Realty Corp. (NYSE: ACR) declared a cash dividend of $0.5390625 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock. This dividend is for the period from January 31, 2021 to April 30, 2021 and will be paid on April 30, 2021 to shareholders of record as of April 1, 2021. The company focuses on commercial real estate mortgage loans and related debt investments, providing strong returns to investors.

Positive

• Cash dividend of $0.5390625 per share enhances shareholder income.
• Focus on commercial real estate-related investments supports business stability.

Negative

• None.

WESTBURY, N.Y., March 22, 2021 /PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR) (the "Company") (formerly, Exantas Capital Corp.; NYSE: XAN) announced today that its Board of Directors declared a cash dividend on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock for the period from January 31, 2021 through and including April 30, 2021 in the amount of $0.5390625 per share. The dividend will be paid on April 30, 2021 to holders of record on April 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 US 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.

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SOURCE ACRES Commercial Realty Corp.

FAQ

What is the dividend amount declared by ACRES Commercial Realty Corp.?

ACRES Commercial Realty Corp. declared a dividend of $0.5390625 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 30, 2021.

What is the record date for the dividend?

The record date for the dividend is April 1, 2021.

How often does ACRES Commercial Realty Corp. pay dividends?

ACRES Commercial Realty Corp. typically pays dividends quarterly.

What types of assets does ACRES Commercial Realty Corp. invest in?

The company primarily invests in commercial real estate mortgage loans and related debt.