City Office REIT Announces Dividends for Second Quarter 2022

Rhea-AI Summary

City Office REIT (NYSE: CIO) has declared a quarterly dividend of $0.20 per share for Q2 2022. The dividend, along with a $0.4140625 per share dividend for its 6.625% Series A Cumulative Redeemable Preferred Stock, will be paid on July 22, 2022, to shareholders of record by the close of business on July 8, 2022. City Office REIT operates high-quality office properties across the Southern and Western U.S., controlling 6.0 million square feet of office space. The company is managed internally and is structured as a real estate investment trust (REIT).

Positive

• Authorized quarterly dividend of $0.20 per share signaling financial confidence.
• Dividend for preferred stock at $0.4140625 could enhance investor interest.

Negative

• None.

VANCOUVER, June 16, 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 second 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 July 22, 2022 to all stockholders, preferred stockholders and operating partnership unitholders, as applicable, of record as of the close of business on July 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 6.0 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, 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 announced by City Office REIT for Q2 2022?

City Office REIT has announced a quarterly dividend of $0.20 per share for Q2 2022.

When will the dividends be paid by City Office REIT?

The dividends will be paid on July 22, 2022.

What is the record date for City Office REIT's dividend payment?

The record date for the dividend payment is July 8, 2022.

What is the dividend for the Series A Preferred Stock of City Office REIT?

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