Chicago Atlantic Real Estate Finance Increases Quarterly Common Stock Dividend by 17.5% for the Second Quarter of 2022

Rhea-AI Summary

Chicago Atlantic Real Estate Finance (NASDAQ: REFI) announced a 17.5% increase in its quarterly cash dividend to $0.47 per share for Q2 2022, equating to an annualized rate of $1.88. The dividend will be paid on July 15, 2022 to shareholders of record by June 30, 2022. Executive Chairman John Mazarakis expressed confidence in the company's portfolio performance, highlighting strong demand for debt capital from cannabis operators.

Positive

• Dividend increased by 17.5% to $0.47 per share.
• Annualized dividend rate now at $1.88 per common share.
• Strong performance of the portfolio.
• High demand for debt capital from cannabis operators.

Negative

• None.

CHICAGO, June 15, 2022 (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 17.5% increase in the Company’s regular quarterly cash dividend to $0.47 per share for the second quarter of 2022. The dividend, which equates to an annualized rate of $1.88 per common share, is payable on July 15, 2022 to shareholders of record as of the close of business on June 30, 2022.

John Mazarakis, Executive Chairman of Chicago Atlantic Real Estate Finance, noted, “We are pleased to grow the dividend once again and provide additional returns to our shareholders. Our portfolio is performing well, and the demand for debt capital from cannabis operators remains strong.”

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.

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.

For REFI investor relations please contact:
Tripp Sullivan
SCR Partners
(615) 942-7077
IR@REFI.reit

For REFI media relations please contact:
Annie Graf
KCSA Strategic Communications
(786) 390-2644
PR@REFI.reit

FAQ

What is the current dividend for Chicago Atlantic Real Estate Finance (REFI)?

The current dividend is $0.47 per share, reflecting a 17.5% increase.

When is the dividend for REFI payable?

The dividend is payable on July 15, 2022.

What is the record date for the REFI dividend?

The record date for the dividend is June 30, 2022.

What is the annualized dividend rate for REFI following the increase?

The annualized dividend rate is $1.88 per common share.