Retail Value Inc. Announces the Results of Dividend Election

Rhea-AI Summary

On January 11, 2021, Retail Value Inc. (NYSE:RVI) announced a common stock dividend of $1.16 per share, payable on January 12, 2021. This dividend will be distributed with approximately $2.1 million in cash and about 1,255,000 common shares, factoring in a Puerto Rico withholding tax of 10%. Shareholders owning around 1.9 million shares opted for a full stock distribution, receiving $1.044 per share in common shares. Those with approximately 17.9 million shares chose cash and stock, obtaining $0.1156 in cash and $0.9283 in shares.

Positive

• Distribution of dividend enhances shareholder value.
• Majority of shareholders opted for stock, indicating confidence in RVI.

Negative

• 10% withholding tax reduces effective dividend income for shareholders.

On January 11, 2021, Retail Value Inc. (NYSE:RVI) announced that its common stock dividend of $1.16 per share payable on January 12, 2021 will be paid with approximately $2.1 million in cash and approximately 1,255,000 common shares after giving effect to the Puerto Rico withholding tax of 10% which is applicable to the full $1.16 per share distribution.

• Holders of approximately 1.9 million shares elected to receive the distribution in 100% RVI common shares and, after giving effect to the Puerto Rico withholding tax of 10% on the full $1.16 per share distribution, will receive $1.044 per share in RVI common shares.
• Holders of approximately 17.9 million shares elected to receive the distribution in 100% cash and, after giving effect to the Puerto Rico withholding tax of 10% on the full $1.16 per share distribution, will receive $0.115663 per share in cash (11.1%) and $0.928337 per share in RVI common shares (88.9%).

The value of the distribution paid in common shares is based upon the volume weighted average trading price of the Company’s Common shares on December 31, 2020 and January 4 and January 5, 2021, or $14.8492 per share. All fractional shares will be paid in cash.

About RVI

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds assets in the continental U.S. and Puerto Rico and is managed by one or more subsidiaries of SITE Centers Corp. RVI focuses on realizing value in its business through operations and sales of its assets. Additional information about RVI is available at www.retailvalueinc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210111005726/en/

FAQ

What is the dividend amount for RVI in 2021?

The dividend amount is $1.16 per share.

When will RVI's dividend be paid?

The dividend will be paid on January 12, 2021.

How much cash will shareholders receive from the dividend distribution?

Shareholders receiving cash will get approximately $0.1156 per share.

What percentage of the dividend is paid in stock?

Approximately 88.9% of the dividend is paid in RVI common shares.