Sachem Capital Announces Third Quarter 2024 Dividend and Schedules Earnings Release and Conference Call

Rhea-AI Summary

Sachem Capital (NYSE American: SACH) has declared a quarterly dividend of $0.05 per share, payable on November 26, 2024, to shareholders of record as of November 18, 2024. The company will release its third quarter 2024 financial results before market open on November 14, 2024, followed by a webcast and conference call at 8:00 a.m. Eastern Time to discuss the results. Investors can access the webcast through the company's website and participate in the conference call through provided domestic and international dial-in numbers.

Positive

• Maintains quarterly dividend distribution of $0.05 per share

Negative

• None.

Insights

Financial Analyst

The announced $0.05 quarterly dividend represents a continuation of Sachem Capital's dividend policy, maintaining its yield for shareholders. For a small-cap mortgage REIT with a market cap of about $108M, this regular dividend distribution signals stable cash flow management despite challenging market conditions. The dividend yield, while modest, demonstrates the company's commitment to returning value to shareholders even in a high-interest rate environment that typically pressures mortgage REITs. The upcoming earnings release will be important for understanding the sustainability of these payments and the company's performance in managing its loan portfolio amidst current market dynamics.

11/07/2024 - 07:00 AM

BRANFORD, Conn., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today that its board of directors authorized and declared a quarterly dividend of $0.05 per share to be paid to shareholders of record as of the close of trading on the NYSE American on November 18, 2024. The dividend is payable on November 26, 2024. Additionally, the Company announced today that it will release the third quarter 2024 financial results before market open on Thursday, November 14, 2024. A webcast and conference call to discuss the results will be held on Thursday, November 14, 2024, at 8:00 a.m. Eastern Time.

Webcast:
A webcast of the conference call will be available on the Investors section of the Company’s website www.sachemcapitalcorp.com. To listen to the live broadcast, go to the site at least 15 minutes prior to the scheduled start time to register and install any necessary audio software.

To Participate in the Telephone Conference Call:
Dial in at least 15 minutes prior to the start time.

Domestic: 1-877-704-4453
International: 1-201-389-0920

Conference Call Playback:
Domestic: 1-844-512-2921
International: 1-412-317-6671
Passcode: 13748720
The playback can be accessed through Thursday, November 28, 2024

About Sachem Capital Corp.
Sachem Capital Corp. is a mortgage REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property. It offers short-term (i.e., three years or less) secured, nonbanking loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. The Company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. The Company also makes opportunistic real estate purchases apart from its lending activities.

Forward Looking Statements
This press release may contain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. Such forward-looking statements are subject to several risks, uncertainties and assumptions as described in the Annual Report on Form 10-K for 2023 filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 1, 2024 and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 filed with the SEC on August 14, 2024. Because of these risks, uncertainties and assumptions, any forward-looking events and circumstances discussed in this press release may not occur. You should not rely upon forward-looking statements as predictions of future events. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by these cautionary statements as well as others made in this press release. You should evaluate all forward-looking statements made by the Company in the context of these risks and uncertainties.

Investors:
Sachem Capital
Investor Relations
Email: investors@sachemcapitalcorp.com

FAQ

When will Sachem Capital (SACH) pay its Q3 2024 dividend?

Sachem Capital will pay its Q3 2024 dividend of $0.05 per share on November 26, 2024, to shareholders of record as of November 18, 2024.

When will Sachem Capital (SACH) release Q3 2024 earnings?

Sachem Capital will release its Q3 2024 financial results before market open on Thursday, November 14, 2024.

How much is Sachem Capital's (SACH) quarterly dividend for Q3 2024?

Sachem Capital's quarterly dividend for Q3 2024 is $0.05 per share.