City Office REIT Announces Dividends for Third Quarter 2021

Rhea-AI Summary

City Office REIT (NYSE: CIO) has announced a quarterly dividend of $0.15 per share for Q3 2021, payable on October 22, 2021. Shareholders must be on record by the close of business on October 8, 2021. Additionally, a dividend of $0.4140625 will be paid for the 6.625% Series A Cumulative Redeemable Preferred Stock. City Office REIT focuses on acquiring and managing office properties across the Southern and Western United States, owning 5.6 million square feet of such properties.

Positive

• Declaration of a quarterly dividend of $0.15 per share, indicating strong cash flow.
• Continued dividend payment for Series A Preferred Stock, demonstrating commitment to shareholders.

Negative

• None.

VANCOUVER, Sept. 16, 2021 /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 $0.15 per share of common stock and common unit of partnership interest for the third 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 October 22, 2021 to all stockholders and operating partnership unitholders of record as of the close of business on October 8, 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 5.6 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.

Contact

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

View original content:https://www.prnewswire.com/news-releases/city-office-reit-announces-dividends-for-third-quarter-2021-301379073.html

SOURCE City Office REIT, Inc.

FAQ

What is the dividend amount for City Office REIT (CIO) for Q3 2021?

The dividend amount for Q3 2021 is $0.15 per share of common stock.

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

The dividends will be paid on October 22, 2021.

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

The record date for the dividends is October 8, 2021.

Is the dividend for City Office REIT (CIO) sustainable?

The press release indicates ongoing commitment to dividends, suggesting sustainability in the near term.