City Office REIT Announces Dividends for First Quarter 2022

Rhea-AI Summary

City Office REIT (NYSE: CIO) declared a quarterly dividend of $0.20 per common share for Q1 2022, payable on April 22, 2022, to shareholders on record as of April 8, 2022. Additionally, a dividend of $0.4140625 per share for its 6.625% Series A Cumulative Redeemable Preferred Stock was authorized. The company, which manages high-quality office properties across the Southern and Western U.S., owns approximately 6.2 million square feet of real estate. This announcement reflects the company's ongoing commitment to returning value to its investors.

Positive

• Quarterly dividend of $0.20 per share announced for Q1 2022.
• Preferred stock dividend of $0.4140625 per share authorized.
• Company ownership of 6.2 million square feet of high-quality office properties.

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• None.

VANCOUVER, March 15, 2022 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office" or the "Company") announced today that its Board of Directors has authorized a quarterly dividend amount of $0.20 per share of common stock and common unit of partnership interest for the first quarter of 2022.  

Additionally, the Board of Directors authorized a regular quarterly dividend of $0.4140625 per share of the Company's 6.625% Series A Cumulative Redeemable Preferred Stock. 

The dividends will be payable on April 22, 2022 to all stockholders and operating partnership unitholders of record as of the close of business on April 8, 2022.

About City Office REIT, Inc.

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating high-quality office properties located in leading 18-hour cities in the Southern and Western United States. City Office currently owns or has a controlling interest in 6.2 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as "anticipate", "expect," "intend," "may" and similar expressions, and variations or negatives of these words. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include, among other things, the timing and amount of repurchases of CIO's common stock, if any, changes to CIO's expected liquidity position and the risk factors set forth in CIO's Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent filings with the Securities and Exchange Commission. The statements made herein speak only as of the date of this press release and except as required by law, CIO does not undertake any obligation to publicly update or revise any forward-looking statements.

Contact

City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
investorrelations@cityofficereit.com

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SOURCE City Office REIT, Inc.

FAQ

What is the dividend amount declared by City Office REIT for Q1 2022?

City Office REIT declared a dividend of $0.20 per share for Q1 2022.

When will the dividend be paid to shareholders?

The dividends will be paid on April 22, 2022.

What is the record date for receiving the dividend?

The record date for the dividend is April 8, 2022.

What is the dividend amount for the Series A Preferred Stock?

The dividend for the Series A Cumulative Redeemable Preferred Stock is $0.4140625 per share.