RPT Realty Declares and Raises Dividend on Common Shares and Declares Dividend for Preferred Shares

Rhea-AI Summary

RPT Realty (NYSE:RPT) announced an 8% increase in its first quarter 2022 cash dividend to $0.13 per common share, payable on April 1, 2022, for shareholders of record by March 18, 2022. Additionally, the Series D convertible preferred share dividend is set at $0.90625 per share. As of September 30, 2021, RPT's aggregate portfolio included 57 shopping centers and 30 net lease properties, with a pro-rata share of 92.5% leased, representing 14.0 million square feet of gross leasable area.

Positive

• 8% increase in cash dividend to $0.13 per share, enhancing shareholder income.
• Series D preferred share dividend of $0.90625 demonstrates company confidence in financial stability.
• Pro-rata share of aggregate portfolio at 92.5% leased indicates strong occupancy rates.

Negative

• None.

NEW YORK, Feb. 10, 2022 (GLOBE NEWSWIRE) -- RPT Realty (NYSE:RPT) (“RPT” or the “Company”) announced today that its Board of Trustees declared a first quarter 2022 regular cash dividend of $0.13 per common share, representing an increase of 8% over the prior quarterly rate. The Board of Trustees also approved a first quarter 2022 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, 2022 through March 31, 2022 are payable on April 1, 2022 for shareholders of record on March 18, 2022.

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 (the “common shares”) are listed and traded on the NYSE under the ticker symbol “RPT”. As of September 30, 2021, the Company's property portfolio (the "aggregate portfolio") consisted of 57 multi-tenant shopping centers (including nine shopping centers owned through a joint venture) and 30 net lease retail properties (all of which are owned through a separate joint venture) which together represent 14.0 million square feet of gross leasable area (“GLA”). As of September 30, 2021, the Company’s pro-rata share of the aggregate portfolio was 92.5% leased. For additional information about the Company please visit rptrealty.com.

Contact Information

Vin Chao
Managing Director - Finance and Investments
vchao@rptrealty.com
(212) 221-1752

FAQ

What is the new dividend amount announced by RPT Realty?

RPT Realty announced a new dividend amount of $0.13 per common share for the first quarter of 2022.

When will RPT Realty's dividend be paid?

The dividend will be paid on April 1, 2022, for shareholders of record as of March 18, 2022.

What is the Series D preferred share dividend amount for RPT Realty?

The Series D convertible preferred share dividend is $0.90625 per share.

How much of RPT Realty's portfolio is leased?

As of September 30, 2021, RPT Realty's pro-rata share of the portfolio was 92.5% leased.