Saul Centers Declares Quarterly Dividends

Rhea-AI Summary

Saul Centers, Inc. (NYSE: BFS) declared a quarterly dividend of $0.59 per share for its common stock, payable on January 31, 2023, to holders of record on January 17, 2023. This dividend remains unchanged from the previous quarter but marks a $0.02 (3.51%) increase from the same quarter last year. Additionally, quarterly dividends for its preferred stock were announced: $0.3828125 for Series D and $0.3750000 for Series E, both payable on January 17, 2023. Saul Centers manages a portfolio of 61 properties, predominantly in the Washington, DC/Baltimore area.

Positive

• Quarterly dividend of $0.59 per share represents a 3.51% increase compared to the previous year.
• Preferred stock dividends declared for Series D and Series E further demonstrate financial stability.

Negative

• Concerns regarding the ability to maintain dividend levels amidst potential economic downturns.
• Risks associated with tenants' abilities to meet rent obligations due to bankruptcy or other financial struggles.

BETHESDA, Md., Dec. 9, 2022 /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, 2023, to holders of record on January 17, 2023. The common dividend is unchanged from the amount paid in the previous quarter and represents a $0.02 per share (3.51%) increase over 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 17, 2023, to holders of record on January 3, 2023.

Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 61 properties which includes (a) 50 community and neighborhood shopping centers and seven mixed-use properties with approximately 9.8 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, 2021 and (ii) our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 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 epidemic or pandemic (such as the outbreak and worldwide spread of COVID-19), and the measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it, which may (as with COVID-19) 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, 2021 and (ii) our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022.

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SOURCE Saul Centers, Inc.

FAQ

What is the dividend amount for Saul Centers (BFS) in January 2023?

The dividend amount for Saul Centers (BFS) is $0.59 per share, payable on January 31, 2023.

When will the dividends for preferred stock be paid for BFS?

Dividends for preferred stock will be paid on January 17, 2023.

How does the current dividend compare to last year's dividend for BFS?

The current dividend of $0.59 represents a $0.02 (3.51%) increase compared to the same quarter last year.

What are the risks associated with Saul Centers (BFS) dividends?

Risks include tenant bankruptcies and economic downturns that may impact rent payments and the company's ability to maintain dividend levels.