Saul Centers Declares Quarterly Dividends

Rhea-AI Summary

Saul Centers (NYSE: BFS) has announced its quarterly dividend payments. The company declared a $0.59 per share dividend on common stock, payable January 31, 2025, to shareholders of record on January 15, 2025. This amount remains unchanged from previous quarters.

Additionally, the company declared dividends on its preferred stocks: $0.3828125 per depositary share for Series D (6.125%) and $0.3750000 per depositary share for Series E (6.000%), both payable January 15, 2025, to holders of record on January 2, 2025.

Saul Centers operates 62 properties, including 58 shopping centers and mixed-use properties totaling 10.2 million square feet, with over 85% of property operating income generated from the DC/Baltimore area.

Positive

• Maintained stable quarterly dividend of $0.59 per share
• Portfolio of 62 properties with 10.2 million square feet of leasable area
• 85% of property operating income from stable DC/Baltimore market

Negative

• No dividend increase despite inflation environment

BETHESDA, Md., Dec. 5, 2024 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS) has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on January 31, 2025, to holders of record on January 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.

The Company also declared quarterly dividends on (a) its 6.125% Series D Cumulative Redeemable Preferred Stock, in the amount of $0.3828125 per depositary share and (b) its 6.000% Series E Cumulative Redeemable Preferred Stock, in the amount of $0.3750000 per depositary share. The preferred dividends will be paid on January 15, 2025, to holders of record on January 2, 2025.

Saul Centers is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio comprised of 62 properties, which includes (a) 58 community and neighborhood shopping centers and mixed-use properties with approximately 10.2 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers is available on the Company's website at www.saulcenters.com.

Safe Harbor Statement

Certain matters discussed within this press release may be deemed to be forward-looking statements within the meaning of the federal securities laws. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. These factors include, but are not limited to, the risk factors described in (i) our Annual Report on Form 10-K for the year ended December 31, 2023, and (ii) our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and include the following: (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (iv) the Company's ability to raise capital by selling its assets, (v) changes in governmental laws and regulations and management's ability to estimate the impact of such changes, (vi) the level and volatility of interest rates and management's ability to estimate the impact thereof, (vii) the availability of suitable acquisition, disposition, development and redevelopment opportunities, and risks related to acquisitions not performing in accordance with our expectations, (viii) increases in operating costs, (ix) changes in the dividend policy for the Company's common and preferred stock and the Company's ability to pay dividends at current levels, (x) the reduction in the Company's income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xi) impairment charges, (xii) unanticipated changes in the Company's intention or ability to prepay certain debt prior to maturity and (xiii) an outbreak or pandemic of any highly infectious or contagious diseases or other public emergencies, and the measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it, which may precipitate or exacerbate one or more of the above-mentioned and/or other risks, and significantly disrupt or prevent us from operating our business in the ordinary course for an extended period. Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements that we make, including those in this press release. Except as may be required by law, we make no promise to update any of the forward-looking statements as a result of new information, future events or otherwise. You should carefully review the risks and risk factors included in (i) our Annual Report on Form 10-K for the year ended December 31, 2023, and (ii) our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024.

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SOURCE Saul Centers, Inc.

FAQ

What is Saul Centers' (BFS) dividend payment for Q4 2024?

Saul Centers declared a quarterly dividend of $0.59 per share on its common stock, payable January 31, 2025.

When is the record date for Saul Centers' (BFS) Q4 2024 dividend?

The record date for Saul Centers' common stock dividend is January 15, 2025.

What are Saul Centers' (BFS) preferred stock dividend rates?

Series D preferred stock pays $0.3828125 per depositary share (6.125%), and Series E pays $0.3750000 per depositary share (6.000%).

How many properties does Saul Centers (BFS) currently operate?

Saul Centers operates 62 properties, including 58 community and neighborhood shopping centers and mixed-use properties, plus 4 land and development properties.