Retail Properties Of America, Inc. Announces Fourth Quarter 2020 Dividend On Common Stock

Rhea-AI Summary

Retail Properties of America, Inc. (NYSE: RPAI) announced a fourth-quarter dividend of $0.06 per share, up from $0.05 in the previous quarter. This increase reflects operational and financial progress, according to CEO Steve Grimes. The dividend will be paid on January 8, 2021, to shareholders on record as of December 23, 2020. RPAI owns and operates 102 retail properties in the U.S., totaling 20 million square feet as of September 30, 2020, and aims to continue growing dividend payouts in 2021.

Positive

• Fourth-quarter dividend increased from $0.05 to $0.06 per share.
• Demonstrates operational and financial progress.
• Plans to grow dividends further in 2021.

Negative

• None.

OAK BROOK, Ill., Dec. 8, 2020 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE:  RPAI) (the "Company") today announced that its board of directors has declared a fourth quarter dividend for its outstanding Class A common stock of $0.06 per common share, up from the $0.05 per common share declared for the third quarter. "This sequentially higher dividend level reflects the operational and financial progress we reported with our third quarter results," stated Steve Grimes, chief executive officer. "We look forward to continuing to advance our goal to grow this quarterly dividend amount during 2021 as conditions warrant." The dividend of $0.06 per common share will be paid on January 8, 2021, to Class A common stockholders of record on December 23, 2020.

ABOUT RPAI
Retail Properties of America, Inc. is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of September 30, 2020, the Company owned 102 retail operating properties in the United States representing 20.0 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.

CONTACT INFORMATION
Michael Gaiden
Vice President – Capital Markets and Investor Relations
Retail Properties of America, Inc.       
(630) 634-4233

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SOURCE Retail Properties of America, Inc.

FAQ

What is the dividend amount declared by RPAI for Q4 2020?

RPAI declared a dividend of $0.06 per share for Q4 2020.

When will the Q4 2020 dividend be paid by RPAI?

The dividend will be paid on January 8, 2021.

What was the previous dividend amount before RPAI's increase?

The previous dividend amount was $0.05 per share for Q3 2020.

What is RPAI's plan regarding dividends in 2021?

RPAI aims to continue increasing the quarterly dividend amount in 2021 as conditions permit.

When is the record date for RPAI's Q4 2020 dividend?

The record date for the Q4 2020 dividend is December 23, 2020.