Armada Hoffler Properties Announces Second Consecutive Quarterly Increase in the Cash Dividend on Common Shares

Rhea-AI Summary

Armada Hoffler Properties, Inc. (NYSE: AHH) announced a cash dividend of $0.16 per common share for Q2 2021, marking a 6.7% increase from the previous quarter and a cumulative increase of 45.5% year-to-date. This dividend will be payable on July 8, 2021 to stockholders of record on June 30, 2021. The Board also declared a cash dividend of $0.421875 per share on its 6.75% Series A Preferred Stock, payable on July 15, 2021. CEO Louis Haddad stated that leasing progress and growth opportunities motivated the dividend increase.

Positive

• Dividend increased by 6.7% from the prior quarter.
• Cumulative dividend increase of 45.5% year-to-date.
• Continued confidence from management reflected in the dividend decision.

Negative

• None.

Company Also Announces Quarterly Cash Dividend on Preferred Stock

VIRGINIA BEACH, Va., May 03, 2021 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced that its Board of Directors declared a cash dividend of $0.16 per common share for the second quarter of 2021. This represents the second consecutive quarterly increase, a 6.7% increase over the prior quarter’s dividend, and a 45.5% cumulative increase year-to-date. The second quarter cash dividend will be payable on July 8, 2021 to stockholders of record on June 30, 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 July 15, 2021 to stockholders of record on July 1, 2021.

“Although the first quarter was somewhat uneventful in terms of notable developments that would change our near term outlook, substantial progress in leasing together with new growth opportunities provided a basis for the Board’s decision to continue ramping the dividend,” said Louis Haddad, President & CEO. “The management team appreciates their confidence, and we look forward to reporting the quarter’s results tomorrow.”

At 8:30 a.m. Eastern on Tuesday, May 4, 2021, senior management will host a conference call and webcast to discuss first 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 dividend amount declared by Armada Hoffler Properties for Q2 2021?

Armada Hoffler Properties declared a cash dividend of $0.16 per common share for Q2 2021.

When will the Q2 2021 dividend be paid?

The Q2 2021 dividend will be payable on July 8, 2021.

What was the increase in the dividend compared to the previous quarter?

The dividend increased by 6.7% compared to the previous quarter.

What dividends were declared for the preferred stock?

A cash dividend of $0.421875 per share was declared on the 6.75% Series A Preferred Stock.

When will the preferred stock dividend be paid?

The preferred stock dividend will be payable on July 15, 2021.