Sachem Capital Corp. Announces Dividend of $0.13 Per Share

Rhea-AI Summary

Sachem Capital Corp. (NYSE American: SACH) has declared a quarterly dividend of $0.13 per share, payable to shareholders of record as of November 7, 2022. This dividend is set to be paid on November 14, 2022. Specializing in first mortgage loans and secured non-banking loans for real estate investors, Sachem Capital aims to capitalize on investment opportunities while adhering to conservative underwriting criteria. The company believes it qualifies as a REIT for federal income tax purposes.

Positive

• Quarterly dividend of $0.13 per share announced.
• Dividend payment scheduled for November 14, 2022.
• Focus on conservative lending strategies enhances stability.

Negative

• None.

BRANFORD, Conn., Oct. 27, 2022 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today that its board of directors authorized and declared a quarterly dividend of $0.13 per share to be paid to shareholders of record as of the close of trading on the NYSE American on November 7, 2022. The dividend will be payable on November 14, 2022.

About Sachem Capital Corp.

Sachem Capital Corp. specializes in originating, underwriting, funding, servicing, and managing a portfolio of first mortgage loans. It offers short-term (i.e., three years or less) secured, non­banking loans (sometimes referred to as “hard money” loans) to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties located primarily in Connecticut. The company does not lend to owner occupants. The company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the company’s 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. Each loan is also personally guaranteed by the principal(s) of the borrower, which guaranty may be collaterally secured by a pledge of the guarantor’s interest in the borrower. The company also makes opportunistic real estate purchases apart from its lending activities. The company believes that it qualifies as a real estate investment trust (REIT) for federal income tax purposes and has elected to be taxed as a REIT beginning with its 2017 tax year.

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. The words “anticipate,” “estimate,” “expect,” “project,” “plan,” “seek,” “intend,” “believe,” “may,” “might,” “will,” “should,” “could,” “likely,” “continue,” “design,” and the negative of such terms and other words and terms of similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to several risks, uncertainties and assumptions as described in our Annual Report on Form 10-K for 2021 filed with the U.S. Securities and Exchange Commission on March 31, 2022, as supplemented by our subsequently filed Quarterly Reports on Form 10-Q. Because of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. In addition, neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. We disclaim any duty to update any of these forward-looking statements. All forward-looking statements attributable to us 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 us in the context of these risks and uncertainties.

Investor & Media Contact:
Crescendo Communications, LLC
Email: sach@crescendo-ir.com
Tel: (212) 671-1021

FAQ

What is the dividend amount for SACH announced in the recent press release?

Sachem Capital Corp. announced a quarterly dividend of $0.13 per share.

When will the dividend for SACH be paid?

The dividend will be paid on November 14, 2022.

Who is eligible for the SACH dividend?

Shareholders of record as of November 7, 2022, are eligible for the dividend.

What type of loans does Sachem Capital Corp. provide?

Sachem Capital specializes in first mortgage loans and short-term secured non-banking loans for real estate investors.

Does Sachem Capital qualify as a REIT?

Yes, Sachem Capital believes it qualifies as a real estate investment trust (REIT) for federal income tax purposes.