AFC Gamma Announces Second Quarter 2024 Dividend

Rhea-AI Summary

AFC Gamma (NASDAQ: AFCG) has declared a quarterly dividend of $0.48 per share for the quarter ending June 30, 2024.

This dividend is payable on July 15, 2024, to shareholders of record as of June 24, 2024. The declared dividend matches the previous quarter's dividend, maintaining consistency.

AFC Gamma is a publicly-traded institutional lender specializing in loans secured by commercial real estate and financing solutions, particularly for state-law compliant cannabis operators. The company operates primarily through direct lending and bridge loan opportunities ranging from $10 million to $100 million.

Positive

• Declared a consistent quarterly dividend of $0.48 per share.
• Payment date set for July 15, 2024, providing timely returns to investors.
• Focus on lending to state-law compliant cannabis operators, a growing sector.
• Maintains a stable dividend payout, indicating financial stability.

Negative

• No increase in the dividend compared to the previous quarter, potentially indicating growth.
• Dependence on the cannabis sector, which faces regulatory and market risks.

Declares $0.48 dividend per share for the quarter ending June 30, 2024

WEST PALM BEACH, Fla., June 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC Gamma”) today announced its dividend for the quarter ending June 30, 2024.

The Board of Directors of AFC Gamma declared a quarterly dividend of $0.48 for the quarter ending June 30, 2024 per outstanding share of common stock, payable on July 15, 2024 to the common stockholders of record on June 24, 2024. The June quarterly dividend is in line with the March quarterly dividend.

About AFC Gamma, Inc.

AFC Gamma, Inc. (NASDAQ: AFCG) is a publicly-traded, institutional lender that originates, structures and underwrites loans secured by commercial real estate and other types of financing solutions. AFC Gamma targets direct lending and bridge loan opportunities typically ranging from $10 million to $100 million across multiple real estate sectors, with a specialization in lending to state-law compliant cannabis operators. It is based in West Palm Beach, Florida.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views and projections with respect to, among other things, operating results and anticipated investments. All statements other than historical facts, are forward-looking statements. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in AFC Gamma’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, could cause actual results and performance to differ materially from those projected in these forward-looking statements. 

Investor Relations Contact:
Robyn Tannenbaum
(561) 510-2293
ir@afcgamma.com
www.afcgamma.com

Media Contact:
Profile Advisors
Rich Myers and Rachel Goun
(347) 343-2999
afcgamma@profileadvisors.com

FAQ

What is the dividend per share declared by AFC Gamma for Q2 2024?

AFC Gamma declared a dividend of $0.48 per share for the quarter ending June 30, 2024.

When will AFC Gamma pay the Q2 2024 dividend?

The Q2 2024 dividend will be paid on July 15, 2024.

Who is eligible to receive the AFC Gamma Q2 2024 dividend?

Shareholders of record as of June 24, 2024, are eligible to receive the Q2 2024 dividend.

Is the AFC Gamma Q2 2024 dividend higher than the previous quarter?

No, the Q2 2024 dividend of $0.48 per share is the same as the previous quarter.

What is AFC Gamma's specialization in lending?

AFC Gamma specializes in loans secured by commercial real estate and financing solutions for state-law compliant cannabis operators.