Armada Hoffler Properties Announces Increase in the Quarterly Cash Dividend on Common Shares for the Third Time This Year

Rhea-AI Summary

Armada Hoffler Properties (NYSE: AHH) announced a Q4 cash dividend of $0.17 per common share, marking a 6.25% increase from the previous quarter and a 54.5% increase year-to-date. The dividend is payable on January 6, 2022 to shareholders of record as of December 29, 2021.

The Board also declared a dividend of $0.421875 for its 6.75% Series A Preferred Stock, payable on January 14, 2022.

President & CEO Louis Haddad noted strong leasing activity and growth opportunities as the reasons for the increase. A conference call to discuss earnings will occur on November 2, 2021.

Positive

• Cash dividend increased to $0.17 per common share, a 6.25% rise from the previous quarter.
• Cumulative dividend increase of 54.5% year-to-date demonstrates strong financial health.
• Increased leasing activity exceeding ambitious targets indicates growth potential.

Negative

• None.

COMPANY ALSO ANNOUNCES QUARTERLY CASH DIVIDEND ON PREFERRED STOCK

VIRGINIA BEACH, Va., Oct. 25, 2021 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced that its Board of Directors declared a cash dividend of $0.17 per common share for the fourth quarter of 2021. This represents the third quarterly increase this year, a 6.25% increase over the prior quarter’s dividend, and a 54.5% cumulative increase year-to-date. The fourth quarter cash dividend will be payable on January 6, 2022 to stockholders of record on December 29, 2021.

The Board of Directors also declared a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock payable on January 14, 2022 to stockholders of record on January 3, 2022.

“We are pleased to raise the dividend for the third time this year. Portfolio wide, leasing activity has continued to exceed our most ambitious targets. This success, paired with new growth opportunities, provided the basis for the Board’s decision to continue increasing the dividend,” said Louis Haddad, President & CEO. “We look forward to reporting the quarter’s results and our company outlook on November 2nd.”

At 8:30 a.m. Eastern on Tuesday, November 2, 2021, senior management will host a conference call and webcast to discuss fourth quarter earnings and other information. To listen to the call, dial 877-407-3982 (domestic) or 201-493-6780 (international) approximately 10 minutes prior to the start time of the call. The conference call will also be available through the investors page of the Company’s website, ArmadaHoffler.com.

About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with over four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.

Contact:
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684

FAQ

What is the new cash dividend amount for Armada Hoffler Properties (AHH)?

The new cash dividend amount is $0.17 per common share for Q4 2021.

When will the dividend be paid to shareholders of AHH?

The dividend will be payable on January 6, 2022, to shareholders of record on December 29, 2021.

What is the dividend amount for Armada Hoffler's preferred stock?

The cash dividend for the 6.75% Series A Preferred Stock is $0.421875 per share.

When is the dividend for the preferred stock payable?

The dividend for the preferred stock will be payable on January 14, 2022, to shareholders of record on January 3, 2022.

What are the reasons for the dividend increase from Armada Hoffler Properties?

The increase was attributed to strong leasing activity and new growth opportunities.