Alpine Income Property Trust Declares Dividend for the Second Quarter 2022

Rhea-AI Summary

Alpine Income Property Trust, Inc. (NYSE: PINE) declared a quarterly cash dividend of $0.27 per share for Q2 2022, an 8.0% increase from Q2 2021. This dividend is payable on June 30, 2022, to stockholders recorded as of June 9, 2022, with an ex-dividend date of June 8, 2022. The annualized yield based on the stock's May 23, 2022 closing price is approximately 5.9%.

Alpine focuses on acquiring and managing a portfolio of high-quality commercial properties.

Positive

• Declared a quarterly cash dividend of $0.27 per share.
• 8.0% increase in dividend compared to Q2 2021.
• Annualized yield of approximately 5.9%.

Negative

• None.

WINTER PARK, Fla., May 24, 2022 (GLOBE NEWSWIRE) -- Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”) announced today that its Board of Directors has authorized, and the Company has declared a quarterly cash dividend of $0.27 per share of common stock for the second quarter of 2022. The dividend is payable on June 30, 2022 to stockholders of record as of the close of business on June 9, 2022. The ex-dividend date for the second quarter 2022 cash dividend is June 8, 2022. The second quarter 2022 cash dividend represents an 8.0% year-over-year increase as compared to the Company’s second quarter 2021 cash dividend and an annualized yield of approximately 5.9% based on the closing price of the common stock on May 23, 2022.

About Alpine Income Property Trust, Inc.

Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality single-tenant net leased commercial income properties.

We encourage you to review our most recent investor presentation which is available on our website at http://www.alpinereit.com.

Safe Harbor

This press release may contain “forward-looking statements.” Forward-looking statements include statements that may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company’s current expectations and assumptions regarding capital market conditions, the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include general business and economic conditions, continued volatility and uncertainty in the credit markets and broader financial markets, risks inherent in the real estate business, including tenant defaults, potential liability relating to environmental matters, illiquidity of real estate investments and potential damages from natural disasters, the impact of the COVID-19 Pandemic on the Company’s business and the business of its tenants and the impact on the U.S. economy and market conditions generally, other factors affecting the Company’s business or the business of its tenants that are beyond the control of the Company or its tenants, and the factors set forth under “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and other risks and uncertainties discussed from time to time in the Company’s filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

FAQ

What is the dividend amount declared by Alpine Income Property Trust for Q2 2022?

Alpine Income Property Trust declared a dividend of $0.27 per share for Q2 2022.

When is the dividend payable for Alpine Income Property Trust?

The dividend is payable on June 30, 2022.

What is the ex-dividend date for the dividend?

The ex-dividend date is June 8, 2022.

How much has the dividend increased compared to last year?

The dividend increased by 8.0% compared to Q2 2021.

What is the annualized yield based on the recent share price?

The annualized yield is approximately 5.9% based on the closing price on May 23, 2022.