RPT Realty Declares and Raises Common Share Dividend by 8% and Declares Preferred Share Dividend

Rhea-AI Summary

RPT Realty (NYSE:RPT) has declared a first quarter 2023 cash dividend of $0.14 per common share, marking an 8% increase from the previous rate. The dividend is set for payment on April 3, 2023, for shareholders recorded by March 20, 2023. Additionally, a dividend of $0.90625 per share was approved for the Series D convertible preferred shares. RPT Realty operates a portfolio of shopping centers across the U.S., with around 15.0 million square feet of gross leasable area and a leasing rate of 94.0% as of September 30, 2022.

Positive

• First quarter common share dividend increased by 8% to $0.14.
• High leasing rate of 94.0% in the property portfolio.

Negative

• None.

NEW YORK, Feb. 09, 2023 (GLOBE NEWSWIRE) -- RPT Realty (NYSE:RPT) (“RPT” or the “Company”) announced today that its Board of Trustees declared a first quarter 2023 regular cash dividend of $0.14 per common share, representing an increase of 8% over the prior quarterly rate. The Board of Trustees also approved a first quarter 2023 Series D convertible preferred share dividend of $0.90625 per share. The current conversion ratio of the Series D convertible preferred shares can be found on the Company's website at investors.rptrealty.com/shareholder-information/dividends. The dividends for the period January 1, 2023 through March 31, 2023 are payable on April 3, 2023 for shareholders of record on March 20, 2023.

About RPT Realty

RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their surrounding communities and meet the modern expectations of the Company's retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange (the “NYSE”). The common shares of the Company, par value $0.01 per share are listed and traded on the NYSE under the ticker symbol “RPT”. As of September 30, 2022, the Company's property portfolio (the "aggregate portfolio") consisted of 46 wholly-owned shopping centers, 11 shopping centers owned through its grocery-anchored joint venture, and 48 retail properties owned through its net lease joint venture, which together represent 15.0 million square feet of gross leasable area. As of September 30, 2022, the Company’s pro-rata share of the aggregate portfolio was 94.0% leased. For additional information about the Company please visit rptrealty.com.

Company Contact:

Vin Chao, Managing Director - Finance & Investments
19 W 44th St. 10th Floor, Ste 1002
New York, New York 10036
vchao@rptrealty.com
(212) 221-1752

FAQ

What is the dividend amount for RPT Realty in Q1 2023?

RPT Realty has declared a dividend of $0.14 per common share for Q1 2023.

When will RPT Realty's dividend be paid in 2023?

The dividend will be paid on April 3, 2023.

What is the record date for RPT Realty's Q1 2023 dividend?

The record date for the dividend is March 20, 2023.

What is the status of RPT Realty's property leasing?

As of September 30, 2022, RPT Realty's property portfolio was 94.0% leased.