City Office REIT Announces Dividends for Fourth Quarter 2020

Rhea-AI Summary

City Office REIT, Inc. (NYSE: CIO) has announced a quarterly dividend of $0.15 per share for Q4 2020. Additionally, a quarterly dividend of $0.4140625 per share on its 6.625% Series A Cumulative Redeemable Preferred Stock has also been authorized. Both dividends are payable on January 25, 2021, to shareholders of record by January 11, 2021. City Office REIT specializes in acquiring quality office properties across key cities in the Southern and Western U.S., currently managing 5.8 million square feet of office space.

Positive

• Authorized quarterly dividend of $0.15 per share for Q4 2020.
• Regular quarterly dividend of $0.4140625 per share on preferred stock.

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• 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 fourth quarter of 2020.

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 25, 2021 to all stockholders and operating partnership unitholders of record as of the close of business on January 11, 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 5.8 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, the possibility that the repurchase program may be suspended or discontinued at any time and the risk factors set forth in CIO's Annual Report on Form 10-K for the year ended December 31, 2019 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/20201215006033/en/

FAQ

What is the dividend amount announced by City Office REIT (CIO) for Q4 2020?

City Office REIT has announced a quarterly dividend of $0.15 per share for Q4 2020.

When will the dividends be payable for City Office REIT (CIO)?

The dividends will be payable on January 25, 2021.

What is the record date for City Office REIT's (CIO) dividends?

The record date for the dividends is January 11, 2021.

What is the preferred stock dividend amount for City Office REIT (CIO)?

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