Franklin BSP Realty Trust, Inc. Announces First Quarter 2024 Common Stock Dividend of $0.355 Per Share and Series E Cumulative Redeemable Preferred Stock Dividend of $0.46875 Per Share

Rhea-AI Summary

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) declares a first quarter 2024 dividend of $0.355 per common share. The dividend payout reflects the company's commitment to rewarding shareholders.

NEW YORK--(BUSINESS WIRE)-- Franklin BSP Realty Trust, Inc. (NYSE: FBRT) (“FBRT” or the “Company”) today announced its Board of Directors has declared a first quarter 2024 dividend of $0.355 per common share. The dividend is payable on or about April 10, 2024 to common stockholders of record as of March 29, 2024. The Board of Directors also declared a first quarter 2024 dividend on its convertible Series H Preferred Stock in an amount equal to the as-converted common dividend amount.

FBRT’s Board of Directors also declared a first quarter 2024 dividend of $0.46875 per share on its 7.50% Series E Cumulative Redeemable Preferred Stock (NYSE: FBRTPRE). This dividend is payable on April 15, 2024 to Series E preferred stockholders of record as of March 31, 2024. Since March 31, 2024 is not a business day, the effective record date is March 29, 2024, the immediately preceding business day.

About Franklin BSP Realty Trust, Inc.

Franklin BSP Realty Trust, Inc. (NYSE: FBRT) is a real estate investment trust that originates, acquires and manages a diversified portfolio of commercial real estate debt secured by properties located in the United States. As of December 31, 2023, FBRT had approximately $6.0 billion of assets. FBRT is externally managed by Benefit Street Partners L.L.C., a wholly owned subsidiary of Franklin Resources, Inc. For further information, please visit www.fbrtreit.com.

Forward-Looking Statements

Certain statements included in this press release are forward-looking statements. Those statements include statements regarding the intent, belief or current expectations of the Company and members of our management team, as well as the assumptions on which such statements are based, and generally are identified by the use of words such as "may," "will," "seeks," "anticipates," "believes," "estimates," "expects," "plans," "intends," "should" or similar expressions. Actual results may differ materially from those contemplated by such forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and we undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

The Company's forward-looking statements are subject to various risks and uncertainties, including but not limited to the risks and important factors contained and identified in the Company’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and its subsequent filings with the SEC, any of which could cause actual results to differ materially from the forward-looking statements. The forward-looking statements included in this communication are made only as of the date hereof.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240318056189/en/

Investor Relations Contact:

Lindsey Crabbe

l.crabbe@benefitstreetpartners.com

(214) 874-2339

Source: Franklin BSP Realty Trust, Inc.

FAQ

What dividend has Franklin BSP Realty Trust, Inc. (FBRT) declared for the first quarter of 2024?

Franklin BSP Realty Trust, Inc. (FBRT) has declared a dividend of $0.355 per common share for the first quarter of 2024.

When will the dividend declared by Franklin BSP Realty Trust, Inc. (FBRT) be payable?

The dividend declared by Franklin BSP Realty Trust, Inc. (FBRT) will be payable on or before a specified date.

What is the stock symbol for Franklin BSP Realty Trust, Inc.?

The stock symbol for Franklin BSP Realty Trust, Inc. is FBRT.