REGENCY AFFILIATES ANNOUNCES QUARTERLY DIVIDEND
- None.
- None.
First Quarter Dividend Set At 7.5 Cents Per Common Share
Management Comments
"We are pleased to declare a quarterly dividend of
"Regency owns five stand-alone self-storage facilities in the
"Our Security West investment represents a
"While the lease termination by GSA creates uncertainty about Regency's investment in Security West, we have several reasons to be optimistic about this investment. Management is currently working with a team of professional real estate advisors and is evaluating alternative uses for the facility and real estate. At the lease termination date on November 1, 2023, the partnership was debt free and held cash in excess of
"We are continuing to review and evaluate further investment and cost reduction opportunities for Regency and intend to grow the company by acquiring or otherwise investing in other attractive long-term businesses that meet our investment characteristics and valuation criteria."
In order to facilitate efficient processing of the dividend, management strongly suggests all shareholders with shares held in certificate form contact our transfer agent, Transfer Online, Inc. at (503) 227-2950 and confirm that the registration information is correct.
About Regency Affiliates
Regency Affiliates, Inc. invests in businesses that generate attractive, predictable and sustainable returns on capital. We are currently invested in two assets:
- A majority joint-venture interest in a portfolio of five stand-alone self-storage facilities in the
Harrisburg, Pennsylvania vicinity comprising approximately 337,000 square feet of net rentable space in excess of 2,500 climate and non-climate-controlled storage units - A
50% limited partnership interest in the Security West Complex located on 34.3 acres inWoodlawn, Maryland . The facility is occupied under a lease with the United States General Services Administration. On September 30, 2021, Security Land and Development Company Limited Partnership received a notice under GSA's lease for the Security West building to terminate the lease and vacate the building effective November 1, 2023.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are statements that are predictive in nature or depend on or refer to future events and can be identified by the words "may," "might," "will," "should," "anticipate," "believe," "expect," "intend," "estimate," "hope," or similar expressions. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or are otherwise beyond our control and some of which might not even be anticipated. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Future events and actual results affecting our strategic plan as well as our financial position, results of operations and cash flows, could differ materially from those described in or contemplated by the forward-looking statements. Important factors that contribute to such risks include, but are not limited to, a default or catastrophe involving the properties in which we invest, the extent to which we are able to raise additional capital, and competition for additional investment opportunities. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. For a more detailed description of these uncertainties and other factors, please see our website at www.regencyaffiliates.com.
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SOURCE Regency Affiliates, Inc.
FAQ
What is the dividend amount per common share set by Regency Affiliates, Inc. for the first quarter of 2024?
What percentage increase does the first-quarter dividend represent compared to the previous year?
How many self-storage facilities does Regency own in Harrisburg, Pennsylvania?
What is the total purchase price of the self-storage facilities acquired by Regency?