Sachem Capital Corp. Announces Quarterly Dividend of $0.12 Per Share

Rhea-AI Summary

Sachem Capital Corp. (SACH) has declared a quarterly dividend of $0.12 per share, payable on July 30, 2021, to shareholders of record as of July 26, 2021. The announcement follows a strong first half of 2021 and a successful public offering that generated $45.4 million in net proceeds, enhancing the company’s flexibility and growth strategy. CEO John Villano indicates increased demand for their loan products, attributed to stability in their loan portfolio.

Positive

• Quarterly dividend declared at $0.12 per share.
• Strong first half of 2021 despite pandemic impacts.
• Completed public offering raised $45.4 million for growth.

Negative

• None.

BRANFORD, Conn., July 15, 2021 (GLOBE NEWSWIRE) -- Sachem Capital Corp. (NYSE American: SACH) announced today that its board of directors authorized and declared a quarterly dividend of $0.12 per share to be paid to shareholders of record as of the close of trading on the NYSE American on July 26, 2021. The dividend will be payable on July 30, 2021.

John Villano, CPA, Chief Executive Officer of Sachem Capital Corp., stated, “We are pleased to declare the issuance of this dividend, which follows a solid first half 2021, despite the pandemic. In addition, we recently completed a public offering of shares of our 7.75% Series A Cumulative Redeemable Preferred Stock for aggregate net proceeds of $45.4 million, which we believe provides us enhanced flexibility to continue to execute on our growth strategy. Importantly, we believe this latest dividend reflects the growth and stability of our loan portfolio, as well as increasing demand for our loan products within both our traditional markets, as well as new markets where we see significant growth opportunities ahead.”

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 real estate assets. Each loan is secured by a first mortgage lien on real estate. 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. Additional information about the company is available at: https://www.sachemcapitalcorp.com/.

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 2020 filed with the U.S. Securities and Exchange Commission on March 31, 2021. 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 amount of the dividend declared by SACH?

Sachem Capital Corp. declared a quarterly dividend of $0.12 per share.

When will the SACH dividend be paid?

The dividend will be payable on July 30, 2021.

What was the net proceeds from SACH's recent public offering?

The public offering generated net proceeds of $45.4 million.

What factors contributed to the growth of SACH?

Increased demand for loan products and stability in the loan portfolio contributed to SACH's growth.