CMCT Declares Preferred Stock Dividends
- CMCT's Board of Directors has declared quarterly cash dividends for its Series A, Series A1, and Series D Preferred Stock. The dividends for Series A Preferred Stock will be $0.34375 per share, payable monthly from November 15, 2023, to January 15, 2024. The dividends for Series A1 Preferred Stock will be $0.489375 per share, payable monthly from November 15, 2023, to January 15, 2024. The dividends for Series D Preferred Stock will be $0.353125 per share, payable monthly from November 15, 2023, to January 15, 2024.
- None.
Series A Preferred Stock
The Board of Directors has declared a quarterly cash dividend of
Series A1 Preferred Stock
The Board of Directors has declared a quarterly cash dividend of
The terms of the Series A1 Preferred Stock provide for cumulative cash dividends (if, as and when authorized by the Board of Directors) on each share of Series A1 Preferred Stock at a quarterly rate of the greater of (i)
The dividend will be payable monthly as follows:
Series D Preferred Stock
The Board of Directors has declared a quarterly cash dividend of
ABOUT CMCT
Creative Media & Community Trust Corporation (“CMCT”) is a real estate investment trust that seeks to own, operate and develop premier multifamily and creative office assets in vibrant and emerging communities throughout
FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), which are intended to be covered by the safe harbors created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives relating to future growth of our business and availability of funds. Such forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “project,” “target,” “expect,” “intend,” “might,” “believe,” “anticipate,” “estimate,” “could,” “would,” “continue,” “pursue,” “potential,” “forecast,” “seek,” “plan,” or “should,” or “goal” or the negative thereof or other variations or similar words or phrases. Such forward-looking statements also include, among others, statements about CMCT’s plans and objectives relating to future growth and outlook. Such forward-looking statements are based on particular assumptions that management of CMCT has made in light of its experience, as well as its perception of expected future developments and other factors that it believes are appropriate under the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT’s management and involve a number of risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include those associated with (i) the timing, form, and operational effects of CMCT’s development activities, (ii) the ability of CMCT to raise in place rents to existing market rents and to maintain or increase occupancy levels, (iii) fluctuations in market rents, (iv) the effects of inflation and higher interest rates on the operations and profitability of CMCT and (v) general economic, market and other conditions. Additional important factors that could cause CMCT’s actual results to differ materially from CMCT’s expectations are discussed under the section “Risk Factors” in CMCT’s Annual Report on Form 10-K for the year ended December 31, 2022. The forward-looking statements included herein are based on current expectations and there can be no assurance that these expectations will be attained. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond CMCT’s control. Although we believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements expressed or implied herein will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by CMCT or any other person that CMCT’s objectives and plans will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCT does not undertake to update them to reflect changes that occur after the date they are made, , except as may be required by applicable securities law.
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Media Relations:
Karen Diehl
Diehl Communications
310-741-9097
karen@diehlcommunications.com
or
Investor Relations:
Steve Altebrando, 646-652-8473
shareholders@creativemediacommunity.com
Source: CMCT
FAQ
What are the dividends for CMCT's Series A Preferred Stock?
When will the dividends for Series A Preferred Stock be paid?
What is the dividend rate for CMCT's Series A1 Preferred Stock?