American Finance Trust Announces Series A Preferred Stock Dividend

Rhea-AI Summary

American Finance Trust, Inc. (Nasdaq: AFIN, AFINP, AFINO) announced a quarterly dividend of $0.46875 per share on its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock. The dividend, amounting to an annualized rate of $1.875, will be payable on January 15, 2021, to stockholders of record as of January 5, 2021. This announcement reaffirms the company's ongoing commitment to providing returns to its preferred stockholders amidst the challenging economic landscape.

Positive

• Quarterly dividend of $0.46875 per share reflects commitment to shareholders.
• Annualized dividend rate of $1.875 enhances investor confidence.

Negative

• Potential risks from COVID-19 may impact future financial performance.
• Forward-looking statements carry uncertainties that could affect stockholder returns.

NEW YORK, Dec. 21, 2020 /PRNewswire/ -- American Finance Trust, Inc. (Nasdaq: AFIN/ AFINP / AFINO) ("AFIN") announced today that it intends to continue to pay dividends on a quarterly basis on its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") at an annualized rate of $1.875 per share or $0.46875 per share on a quarterly basis. Dividends on the Series A Preferred Stock are payable in arrears to Series A Preferred Stock holders of record at the close of business on the applicable record date and payable on the 15th day of the first month of each fiscal quarter (or, if not a business day, the next succeeding business day).

Accordingly, AFIN declared a dividend of $0.46875 per share of Series A Preferred Stock payable on January 15, 2021 to Series A Preferred Stock holders of record at the close of business on January 5, 2021.

About American Finance Trust, Inc.

American Finance Trust, Inc. (Nasdaq: AFIN) is a publicly traded real estate investment trust listed on the Nasdaq focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S. Additional information about AFIN can be found on its website at www.americanfinancetrust.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions indicate a forward-looking statement, although not all forward-looking statements include these words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of AFIN's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat COVID-19, on AFIN, AFIN's tenants and the global economy and financial markets and that the information about rent collections may not be indicative of any future period, as well as those set forth in the Risk Factors section of AFIN's most recent Annual Report on Form 10-K for the year ended December 31, 2019 filed on February 27, 2020, AFIN's most recent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020, filed on May 7, 2020, August 6, 2020, and November 5, 2020, respectively, and all other filings filed with the Securities and Exchange Commission after that date. Further, forward-looking statements speak only as of the date they are made, and AFIN undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Contacts:
Investor Relations       
investorrelations@americanfinancetrust.com 
(866) 902-0063

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SOURCE American Finance Trust, Inc.

FAQ

What is the upcoming dividend for American Finance Trust's preferred stock?

American Finance Trust has declared a dividend of $0.46875 per share on its Series A Preferred Stock.

When will the dividend for AFIN's Series A Preferred Stock be paid?

The dividend will be paid on January 15, 2021.

What is the record date for the AFIN Series A Preferred Stock dividend?

The record date is January 5, 2021.

What is the annualized dividend rate for AFIN's Series A Preferred Stock?

The annualized dividend rate is $1.875 per share.

Are there risks associated with AFIN's dividend payments?

Yes, potential risks from the ongoing COVID-19 pandemic may impact financial performance.