Sachem Capital - SACH STOCK NEWS

Sachem Capital Corp. (NYSE American: SACH) has announced its intention to delist its 7.125% unsecured, unsubordinated Notes (ticker symbol: SCCB) from the NYSE American and deregister them under the Exchange Act of 1934. These Notes, due June 30, 2024, will be redeemed at par value plus accrued and unpaid interest up to the maturity date. The final trading day for the Notes will be June 28, 2024, and the final payment will be made on July 1, 2024, due to the maturity date falling on a non-trading day. Noteholders will be directly notified about the redemption process, and no further action is required on their part. Sachem Capital does not plan to list the Notes on another national securities exchange or quotation medium.

Sachem Capital Corp. (NYSE American: SACH) announced a registered public offering of USD-denominated unsecured, unsubordinated Notes, due five years from issuance. The Notes are expected to be rated BBB+ by Egan-Jones Ratings Company, subject to market conditions. Egan-Jones is an independent rating agency recognized by the NAIC and ESMA. Oppenheimer & Co. Inc. will manage the offering as the sole-bookrunning manager. The SEC has declared the registration statement effective for this offering, which will be made only through a related prospectus supplement and accompanying base prospectus. Investors are advised to read these documents carefully before investing.

Sachem Capital Corp. (NYSE American: SACH) has appointed Nicholas M. Marcello as Interim Chief Financial Officer, effective immediately. John Villano, CPA, will continue as CEO. Marcello, previously Vice President of Finance & Operations at Sachem, will oversee financial and capital markets activities, portfolio management, investments, foreclosures, workouts, legal, and HR. Marcello has extensive experience, having worked at Waypoint Real Estate Investments and PricewaterhouseCoopers LLP. He holds degrees from Providence College and Northeastern University. CEO John Villano expressed confidence in Marcello's financial expertise and value to the company.

Sachem Capital Corp. reported its first-quarter results for 2024, showcasing a 17.0% revenue growth to $17.2 million. The company highlighted a focus on maintaining strong liquidity, growing borrower relationships, and protecting capital amidst economic uncertainties. Total revenue, interest income, and other income sources increased, while operating costs saw a rise primarily due to a provision for credit losses. Net income for common shareholders decreased to $3.6 million, or $0.08 per share, compared to the same period in 2023. The balance sheet remained stable, with total assets and liabilities showing consistency. Sachem Capital's strategic approach to debt repayment and shareholder equity growth was evident in the financial results.

Sachem Capital Corp. (NYSE American: SACH) announced the first quarter 2024 financial results release on May 10, 2024, followed by a conference call at 8:00 a.m. Eastern Time. The webcast will be available on their website, and participants can dial in to join the call.

Sachem Capital Corp. (SACH) reported a 25.5% increase in total revenue for the year ended December 31, 2023, reaching $65.6 million. Despite revenue growth, net income attributable to common shareholders declined by 29.4% and earnings per share by 40.1% due to challenges in the macroeconomic environment, including rising interest rates and weak commercial real estate values. The company's focus remains on controlling what it can to protect capital and enhance shareholder value.

Sachem Capital Corp. (SACH) declares a quarterly dividend of $0.11 per share for shareholders of record on April 9, 2024, payable on April 16, 2024.

Sachem Capital Corp. (SACH) is set to release its 2023 financial results on April 1, 2024, followed by a webcast and conference call to discuss the results. Investors can access the webcast on the company's website and participate in the conference call by dialing in. The playback of the conference call will be available until April 15, 2024.

Sachem Capital Corp. (SACH) announced the tax treatment for the Company's distributions on its common stock and preferred stock paid with respect to the calendar year ended December 31, 2023. The total tax information for common stock distributions amounted to $0.480000 per share, with no capital gains or non-dividend distributions. On the other hand, the total tax information for preferred stock distributions was $1.937500 per share, also with no capital gains or non-dividend distributions.