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

Rhea-AI Summary

ACRES Commercial Realty Corp (NYSE: ACR) has announced quarterly cash dividend declarations for its preferred stock series. The company will distribute:

• A dividend of $0.6383681 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, reflecting a 10.21389% rate (three-month Term SOFR plus 5.927% spread)
• A dividend of $0.4921875 per share on its 7.875% Series D Cumulative Redeemable Preferred Stock

Both dividends will be paid on April 30, 2025, to stockholders of record as of April 1, 2025.

Positive

• Consistent dividend payments maintained for both preferred stock series
• High yield of 10.21389% for Series C Preferred Stock holders
• Floating rate structure on Series C provides inflation protection

Negative

• None.

UNIONDALE, N.Y., March 18, 2025 /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 ("Series C Preferred Stock") in the amount of $0.6383681 per share, which reflects a rate of 10.21389%, equal to three-month Term SOFR on the dividend determination date plus a spread of 5.927% per annum. The dividend will be payable on April 30, 2025, to holders of record on April 1, 2025.

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 April 30, 2025, to holders of record on April 1, 2025.

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 may hold equity investments in commercial real estate properties through direct ownership and joint ventures. 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.

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SOURCE ACRES Commercial Realty Corp.

FAQ

What is the dividend amount for ACR's Series C Preferred Stock in Q2 2025?

ACR's Series C Preferred Stock will pay $0.6383681 per share, reflecting a 10.21389% rate.

When is the payment date for ACR's preferred stock dividends?

Both Series C and Series D preferred stock dividends will be paid on April 30, 2025.

What is the dividend rate for ACR's Series C Preferred Stock?

The Series C Preferred Stock pays at 10.21389%, calculated as three-month Term SOFR plus a 5.927% spread.

How much will ACR Series D Preferred stockholders receive per share?

Series D Preferred stockholders will receive $0.4921875 per share.

What is the record date for ACR's preferred stock dividends?

The record date for both preferred stock dividends is April 1, 2025.