The Necessity Retail REIT Announces Series C Preferred Stock Dividends

Rhea-AI Summary

The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced a quarterly dividend of $0.4609375 per share on its 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock. This dividend, totaling $1.84375 annually, will be paid on January 17, 2023 to holders of record as of January 6, 2023. The company continues its commitment to shareholder returns amidst market uncertainties, including impacts from the COVID-19 pandemic and geopolitical tensions.

Positive

• Quarterly dividend of $0.4609375 per share enhances income for shareholders.
• Continued commitment to pay dividends reflects company confidence.

Negative

• Risks include impacts from COVID-19 and geopolitical instability affecting financial markets.
• Potential future acquisitions may not be completed on favorable terms, affecting growth.

NEW YORK, Dec. 21, 2022 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL") announced today that it intends to continue to pay dividends on a quarterly basis on its 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock") at an annualized rate of $1.84375 per share or $0.4609375 per share on a quarterly basis. Dividends on the Series C Preferred Stock are payable in arrears to Series C Preferred Stock holders of record at the close of business on the applicable record date and payable on the 15th day of the first month of each fiscal quarter (or, if not a business day, the next succeeding business day).

Accordingly, RTL declared a dividend of $0.4609375 per share of Series C Preferred Stock payable on January 17, 2023 to Series C Preferred Stock holders of record at the close of business on January 6, 2023.

About The Necessity Retail REIT Where America Shops

The Necessity Retail REIT, Inc. (Nasdaq: RTL) is a publicly traded real estate investment trust listed on the Nasdaq focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S. Additional information about RTL can be found on its website at www.necessityretailreit.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to be materially different. The words such as "may," "will," "seeks," "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "should" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside of RTL's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include (a) the potential adverse effects of (i) the global COVID-19 pandemic, including actions taken to contain or treat COVID-19, and (ii) the geopolitical instability due to the ongoing military conflict between Russia and Ukraine, including related sanctions and other penalties imposed by the U.S. and European Union, and the related impact on RTL, RTL's tenants and the global economy and financial markets, and (b) that any potential future acquisition is subject to market conditions and capital availability and may not be completed on favorable terms, or at all as well as those risks and uncertainties forth in the Risk Factors section of RTL's Annual Report on Form 10-K for the year ended December 31, 2021 filed on February 24, 2022, and all other filings with the Securities and Exchange Commission  after that date, as such risks, uncertainties and other important factors may be updated from time to time in RTL's subsequent reports. Further, forward-looking statements speak only as of the date they are made, and RTL undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required to do so by law.

Contacts:
Investor Relations       
ir@rtlreit.com
(866) 902-0063

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SOURCE The Necessity Retail REIT, Inc.

FAQ

What is the dividend amount for RTL's Series C Preferred Stock?

The dividend amount is $0.4609375 per share.

When will the dividend for RTL be paid?

The dividend will be paid on January 17, 2023.

What is the record date for RTL's dividend payment?

The record date for the dividend payment is January 6, 2023.

How often does RTL pay dividends on its preferred stock?

RTL pays dividends on a quarterly basis.

What risks could affect RTL's future dividend payments?

Risks include the impact of COVID-19 and geopolitical tensions.