Armada Hoffler Properties Increases First Quarter 2021 Cash Dividend over 36% on Common Shares

Rhea-AI Summary

Armada Hoffler Properties (NYSE: AHH) announced a 36% increase in its first quarter cash dividend, declaring $0.15 per common share for Q1 2021. This dividend will be payable on April 8, 2021 to stockholders of record as of March 31, 2021. Additionally, a cash dividend of $0.421875 per share will be paid on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock on April 15, 2021 to stockholders on record by April 1, 2021. President & CEO, Louis Haddad, expressed confidence in the company’s outlook.

Positive

• 36% increase in cash dividend to $0.15 per common share.
• Confidence shown by the Board of Directors in increasing dividend.
• Upcoming conference call to discuss financial results and outlook.

Negative

• None.

Company Also Announces Quarterly Cash Dividend on Preferred Stock

VIRGINIA BEACH, Va., Feb. 09, 2021 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) announced that its Board of Directors declared a cash dividend of $0.15 per common share for the first quarter of 2021. This represents a 36% increase over the prior quarter’s cash dividend. The first quarter cash dividend will be payable on April 8, 2021 to stockholders of record on March 31, 2021. The first quarter cash dividend will be payable on April 8, 2021 to stockholders of record on March 31, 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 April 15, 2021 to stockholders of record on April 1, 2021.

“We appreciate the confidence the Board has shown by substantially increasing the first quarter dividend,” said Louis Haddad, President & CEO. “We look forward to discussing the results of this past year as well as our outlook for 2021 during our conference call and webcast later this week.”

At 8:30 a.m. EST on Thursday, February 11, 2021, senior management will host a conference call and webcast to discuss its outlook for 2021 as well as financial results for the quarter and year ended December 31, 2020. 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 current cash dividend for AHH for Q1 2021?

The current cash dividend for Armada Hoffler Properties (AHH) for Q1 2021 is $0.15 per common share.

When is the dividend for AHH payable?

The dividend for AHH is payable on April 8, 2021, to stockholders of record on March 31, 2021.

What is the dividend amount for the preferred stock of AHH?

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

When will the preferred stock dividend be paid?

The preferred stock dividend will be paid on April 15, 2021, to stockholders of record on April 1, 2021.