City Office REIT Announces Dividends for Fourth Quarter 2022

Rhea-AI Summary

City Office REIT (NYSE: CIO) has announced a quarterly dividend of $0.20 per common share for Q4 2022. Additionally, a dividend of $0.4140625 has been authorized for its 6.625% Series A Cumulative Redeemable Preferred Stock. Both dividends will be payable on January 24, 2023, to stockholders of record as of the close of business on January 10, 2023. City Office focuses on high-quality office properties primarily in Sun Belt markets, owning or controlling 6 million square feet of assets.

Positive

• Quarterly common stock dividend of $0.20 enhances shareholder returns.
• Preferred stock dividend of $0.4140625 reflects strong income generation.

Negative

• None.

VANCOUVER, Dec. 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 fourth 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 January 24, 2023 to all stockholders, preferred stockholders and operating partnership unitholders, as applicable, of record as of the close of business on January 10, 2023.

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 predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 6.0 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, 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 for City Office REIT for Q4 2022?

City Office REIT has announced a quarterly dividend of $0.20 per share for Q4 2022.

When will City Office REIT pay dividends?

Dividends will be payable on January 24, 2023.

What is the record date for City Office REIT's fourth-quarter dividend?

The record date for the fourth-quarter dividend is January 10, 2023.

What is the dividend for City Office REIT's preferred stock?

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