Alpine Income Property Trust Increases Quarterly Dividend by 5.9% and Declares Dividend for the Fourth Quarter 2021

Rhea-AI Summary

Alpine Income Property Trust (NYSE: PINE) announced a 5.9% increase in its quarterly cash dividend, raising it to $0.27 per share for Q4 2021, compared to $0.255 previously. The dividend, representing a 22.7% year-over-year increase, is payable on December 30, 2021, to stockholders of record as of December 9, 2021. The ex-dividend date is set for December 8, 2021, resulting in an annualized yield of approximately 6.0% based on its closing price on November 19, 2021.

Positive

• Dividend increased by 5.9% to $0.27 per share.
• Year-over-year dividend growth of 22.7%.
• Annualized yield of approximately 6.0%.
• Confidence in maintaining financial returns for shareholders.

Negative

• None.

DAYTONA BEACH, Fla., Nov. 22, 2021 (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 5.9% increase in the Company’s quarterly cash dividend to $0.27 per share of common stock for the fourth quarter of 2021 as compared to its previous quarterly cash dividend of $0.255 per share of common stock.  The dividend is payable on December 30, 2021 to stockholders of record as of the close of business on December 9, 2021.  The ex-dividend date for the fourth quarter 2021 cash dividend is December 8, 2021. The fourth quarter 2021 cash dividend represents a 22.7% year-over-year increase as compared to the Company’s fourth quarter 2020 cash dividend and an annualized yield of approximately 6.0% based on the closing price of the common stock on November 19, 2021.   

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, 2020 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.

Contact:

Matthew M. Partridge Senior Vice President, Chief Financial Officer & Treasurer (386) 944-5643 mpartridge@alpinereit.com

 

FAQ

What is the new dividend amount for Alpine Income Property Trust (PINE)?

The new dividend amount for Q4 2021 is $0.27 per share.

When is the dividend payable for PINE?

The dividend is payable on December 30, 2021.

What is the ex-dividend date for PINE's fourth quarter dividend?

The ex-dividend date is December 8, 2021.

What is the annualized yield for PINE's latest dividend?

The annualized yield is approximately 6.0%.

How much has PINE's dividend increased year over year?

The dividend has increased by 22.7% year over year.