Chicago Atlantic Real Estate Finance Declares Common Stock Dividend of $0.47 for the First Quarter of 2023

Rhea-AI Summary

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) has declared a quarterly cash dividend of $0.47 per share for Q1 2023, amounting to an annualized rate of $1.88. This dividend is payable on April 14, 2023, to shareholders on record by the close of business on March 31, 2023. Following recent banking sector instability, the company has confirmed it has no exposure to Silicon Valley Bank, Signature Bank New York, or First Republic Bank. Chicago Atlantic specializes in providing senior secured loans primarily to state-licensed cannabis operators across limited-license states, with a portfolio exceeding $1.8 billion across more than 50 loans.

Positive

• Declaration of a quarterly cash dividend of $0.47 per share, showcasing a stable income for shareholders.
• Annualized dividend rate set at $1.88, indicating company confidence in financial stability.
• No exposure to recent banking issues, ensuring portfolio security.

Negative

• None.

CHICAGO, March 15, 2023 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) ("Chicago Atlantic" or the “Company”), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the first quarter of 2023. The dividend, which equates to an annualized rate of $1.88 per common share, is payable on April 14, 2023, to shareholders of record as of the close of business on March 31, 2023.

In light of the recent news regarding Silicon Valley Bank and Signature Bank New York, the Chicago Atlantic team has assessed the portfolio companies it invests in and has found that they have no exposure to Silicon Valley Bank, Signature Bank New York or First Republic Bank.

About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a market-leading mortgage REIT utilizing significant real estate, credit and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States. REFI is part of the Chicago Atlantic platform, which has over 40 employees and has deployed over $1.8 billion across more than 50 loans.

Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect our current views and projections with respect to, among other things, future events and financial performance. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including statements about our future growth and strategies for such growth, are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. More information on these risks and other potential factors that could affect our business and financial results is included in our filings with the SEC. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect us. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contact:
Tripp Sullivan
SCR Partners
(615) 942-7077
IR@REFI.reit

FAQ

What is the dividend amount and payment date for REFI in Q1 2023?

The dividend amount is $0.47 per share, payable on April 14, 2023.

When is the record date for the REFI dividend?

The record date for the dividend is March 31, 2023.

Does REFI have any exposure to Silicon Valley Bank or Signature Bank?

No, REFI has confirmed it has no exposure to Silicon Valley Bank or Signature Bank.

What does REFI specialize in?

REFI specializes in originating senior secured loans primarily to state-licensed cannabis operators.