REGENCY AFFILIATES ANNOUNCES QUARTERLY DIVIDEND
Regency Affiliates (OTC Pink: RAFI) has announced a quarterly dividend of 7.8 cents per common share, payable on October 8, 2024, to shareholders of record as of September 30, 2024. This represents a 4% increase over the October 2023 dividend. The company's portfolio includes five self-storage facilities near Harrisburg, Pennsylvania, acquired for $35MM with $25.3MM in non-recourse debt financing. Regency earns a 7.5% annual preferred distribution on its $11.2MM capital contribution, with surplus cash flow split 80% to Regency and 20% to SSCP Management The company's Security West investment faces uncertainty due to GSA's lease termination, but management remains optimistic about potential alternative uses for the facility.
Regency Affiliates (OTC Pink: RAFI) ha annunciato un dividendo trimestrale di 7,8 centesimi per azione ordinaria, che sarà pagato il 8 ottobre 2024, agli azionisti registrati al 30 settembre 2024. Questo rappresenta un incremento del 4% rispetto al dividendo di ottobre 2023. Il portafoglio della società include cinque strutture di self-storage nei pressi di Harrisburg, Pennsylvania, acquisite per 35 milioni di dollari con un finanziamento di debito non ricorsivo di 25,3 milioni di dollari. Regency riceve una distribuzione annuale preferenziale del 7,5% sul suo contributo di capitale di 11,2 milioni di dollari, con il flusso di cassa in eccesso suddiviso in 80% per Regency e 20% per SSCP Management. L'investimento della società in Security West si trova di fronte a incertezze a causa della risoluzione del contratto di locazione da parte della GSA, ma la direzione rimane ottimista riguardo a potenziali utilizzi alternativi per la struttura.
Regency Affiliates (OTC Pink: RAFI) ha anunciado un dividendo trimestral de 7.8 centavos por acción común, que se pagará el 8 de octubre de 2024 a los accionistas registrados al 30 de septiembre de 2024. Esto representa un aumento del 4% respecto al dividendo de octubre de 2023. El portafolio de la empresa incluye cinco instalaciones de autoalmacenamiento cerca de Harrisburg, Pennsylvania, adquiridas por 35 millones de dólares con 25.3 millones de dólares en financiación de deuda no recursiva. Regency obtiene una distribución preferencial anual del 7.5% sobre su contribución de capital de 11.2 millones de dólares, con el flujo de efectivo excedente dividido en un 80% para Regency y un 20% para SSCP Management. La inversión de la empresa en Security West enfrenta incertidumbres debido a la terminación del contrato de arrendamiento por parte de la GSA, pero la dirección sigue siendo optimista sobre posibles usos alternativos para la instalación.
Regency Affiliates (OTC Pink: RAFI)는 보통주당 7.8센트의 분기 배당금을 발표했으며, 2024년 10월 8일에 2024년 9월 30일 기준 주주에게 지급될 예정입니다. 이는 2023년 10월 배당금보다 4% 증가한 것입니다. 회사의 포트폴리오에는 펜실베니아주 해리스버그 근처에 위치한 다섯 개의 셀프 스토리지 시설이 포함되어 있으며, 3천5백만 달러에 인수하였고 비양도성 부채로 2천5백3십만 달러를 조달하였습니다. Regency는 1천1백2십만 달러의 자본 기여에 대해 연 7.5% 우선 배당금을 받으며, 잉여 현금 흐름은 Regency가 80%, SSCP Management가 20%를 차지합니다. 회사의 Security West 투자에서는 GSA의 임대 종료로 인한 불확실성이 있지만, 경영진은 시설의 대체 용도에 대한 가능성에 대해 긍정적인 입장을 보이고 있습니다.
Regency Affiliates (OTC Pink: RAFI) a annoncé un dividende trimestriel de 7,8 cents par action ordinaire, payable le 8 octobre 2024, aux actionnaires inscrits au 30 septembre 2024. Cela représente une augmentation de 4% par rapport au dividende d'octobre 2023. Le portefeuille de l'entreprise comprend cinq installations de self-stockage près de Harrisburg, en Pennsylvanie, acquises pour 35 millions de dollars avec un financement par dette non recourse de 25,3 millions de dollars. Regency perçoit une distribution préférentielle annuelle de 7,5% sur sa contribution en capital de 11,2 millions de dollars, avec un excédent de trésorerie réparti à 80% pour Regency et 20% pour SSCP Management. L'investissement de l'entreprise dans Security West fait face à des incertitudes en raison de la résiliation du bail par la GSA, mais la direction reste optimiste quant aux utilisations alternatives potentielles de l'installation.
Regency Affiliates (OTC Pink: RAFI) hat eine vierteljährliche Dividende von 7,8 Cent pro Stammaktie angekündigt, die am 8. Oktober 2024 an die Aktionäre, die am 30. September 2024 im Aktienregister stehen, ausgezahlt wird. Dies stellt einen 4% Anstieg gegenüber der Dividende vom Oktober 2023 dar. Das Portfolio des Unternehmens umfasst fünf Selbstlagerungseinrichtungen in der Nähe von Harrisburg, Pennsylvania, die für 35 Millionen Dollar erworben wurden und mit 25,3 Millionen Dollar nicht rückzahlbare Schulden finanziert sind. Regency erhält eine jährliche bevorzugte Ausschüttung von 7,5% auf seine Kapitalbeteiligung von 11,2 Millionen Dollar, wobei der überschüssige Cashflow zu 80% an Regency und zu 20% an SSCP Management verteilt wird. Die Investition des Unternehmens in Security West steht aufgrund der Kündigung des Mietvertrags durch die GSA unter Unsicherheit, aber das Management bleibt optimistisch hinsichtlich möglicher alternativer Nutzungsmöglichkeiten für die Einrichtung.
- Quarterly dividend increased by 4% to 7.8 cents per share
- Strong occupancy and cash flows from self-storage facilities
- Surplus cash of over $3.85MM invested in short-term US Treasuries
- Security West partnership is debt-free with approximately $7MM in cash
- GSA's lease termination at Security West creates investment uncertainty
- Ongoing tax dispute with Security West partners remains unresolved
Third Quarter Dividend Set At 7.8 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
"Surplus cash is currently retained within the venture. Such surplus cash exceeds
"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. Security West management is currently working with a team of professional real estate advisors and is evaluating alternative uses for the facility and real estate. On June 30, 2024, the partnership was debt free and held cash of approximately
"From time to time Regency and the general partner of Security West have engaged in discussions intended to settle the tax dispute between the partners in Security West and any related liability for unpaid taxes, interest and penalties. No such settlement has been achieved to date and no assurance can be given that the parties will ever reach a settlement of the dispute."
"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 in Woodlawn,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.
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