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Paramount Group, Inc. (NYSE: PGRE) has declared a reduced quarterly cash dividend of $0.035 per share of common stock, resulting in an indicated annual rate of $0.14 per share. The reduced dividend will enable Paramount to retain an additional $40 million of cash annually.
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Paramount Group, Inc. has reduced its quarterly cash dividend, allowing the company to retain an additional $40 million of cash annually.
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None.
NEW YORK--(BUSINESS WIRE)--
Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a reduced quarterly cash dividend of $0.035 per share of common stock (a new indicated annual rate of $0.14 per share), for the period from April 1, 2023 to June 30, 2023. The dividend will be payable on July 14, 2023, to stockholders of record as of the close of business on June 30, 2023. The reduced dividend will enable Paramount to retain an additional $40 million of cash annually, further enhancing Paramount’s already strong financial position.
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
What is the new quarterly cash dividend declared by Paramount Group, Inc.?
Paramount Group, Inc. has declared a reduced quarterly cash dividend of $0.035 per share of common stock.
What is the indicated annual rate of the reduced dividend?
The reduced dividend results in an indicated annual rate of $0.14 per share.
What is the dividend payment date?
The dividend will be payable on July 14, 2023.
Who will receive the dividend?
The dividend will be paid to stockholders of record as of June 30, 2023.
How will the reduced dividend affect Paramount's financial position?
The reduced dividend will enable Paramount to retain an additional $40 million of cash annually, enhancing the company's already strong financial position.
