City Office REIT Announces Dividends for First Quarter 2021

Rhea-AI Summary

City Office REIT, Inc. (NYSE: CIO) has announced a quarterly dividend of $0.15 per share for Q1 2021, payable on April 23, 2021. This dividend is for all stockholders of record as of April 9, 2021. Additionally, the Board approved a quarterly dividend of $0.4140625 per share for the 6.625% Series A Cumulative Redeemable Preferred Stock. City Office focuses on high-quality office properties across the Southern and Western U.S., owning or controlling 5.5 million square feet.

Positive

• Quarterly dividend of $0.15 per share, indicating confidence in financial stability.
• Regular quarterly dividend of $0.4140625 per share for preferred stock suggests ongoing income for preferred shareholders.

Negative

• None.

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 $0.15 per share of common stock and common unit of partnership interest for the first quarter of 2021.

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 23, 2021 to all stockholders and operating partnership unitholders of record as of the close of business on April 9, 2021.

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 5.5 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, 2020 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210323006081/en/

FAQ

What is the dividend amount for City Office REIT for Q1 2021?

City Office REIT has announced a dividend of $0.15 per share for Q1 2021.

When will the dividends for City Office REIT be paid?

The dividends will be payable on April 23, 2021.

Who is eligible for the City Office REIT dividend?

Stockholders and operating partnership unitholders of record as of April 9, 2021, are eligible.

What is the dividend for preferred stock of City Office REIT?

The dividend for the 6.625% Series A Cumulative Redeemable Preferred Stock is $0.4140625 per share.