Safe and Green Development Corporation Updates Ex-Dividend Date For the Previously Announced Dividend

Rhea-AI Summary

Safe and Green Development (NASDAQ: SGD) has provided updated details for its previously announced stock dividend. The company will distribute a stock dividend of 0.05 shares of common stock for each outstanding share, effectively giving shareholders one additional share for every twenty shares held.

Key dates include:

• Record date: April 7, 2025
• Distribution date: After market close on April 22, 2025
• Ex-dividend date: April 7, 2025 (market open)

This announcement corrects a previous disclosure that incorrectly stated trading would begin on a dividend-adjusted basis on April 23, 2025. Fractional shares will be settled in cash based on the opening price of the common stock on April 8, 2025.

Positive

• Stock dividend distribution of 5% (1:20 ratio) to shareholders
• Clear timeline and process for dividend distribution

Negative

• Correction of previously announced incorrect ex-dividend date indicates internal communication issues

MIAMI, March 12, 2025 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SG Devco" or the "Company") today announced details regarding its previously declared stock dividend, including the confirmed date for trading on a stock dividend-adjusted basis.

On March 5, 2025, SG Devco approved a stock dividend from its treasury shares, consisting of 0.05 shares of common stock for each outstanding share. As a result, shareholders will receive one (1) additional share of common stock for every twenty (20) shares held. Any fractional shares will be settled in cash based on the opening price of the common stock on April 8, 2025.

The record date for the stock dividend is April 7, 2025, with distribution to stockholders taking place after the close of trading on April 22, 2025. Trading on a stock dividend-adjusted basis will begin at market open on April 7, 2025.

This announcement serves as an update of the Company's previous disclosure, which had incorrectly stated that trading was expected to begin on a stock dividend-adjusted basis on April 23, 2025.

About Safe and Green Development Corporation (SG Devco)

Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses primarily on the direct acquisition and indirect investment in properties nationally that will be further developed in the future into green single or multi-family projects. Additionally, a wholly owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created a real estate AI Platform the Company integrates to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance. MyVONIA Innovations LLC, a wholly owned subsidiary, is the owner of MyVONIA which is an AI-powered personal assistant designed to help simplify daily tasks and improve productivity for individuals and businesses.

Safe Harbor Statement

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All statements other than statements of historical fact are or may be deemed to be forward-looking statements. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates" and similar expressions and include statements regarding using Majestic World Holdings LLC's real estate AI Platform to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance and MyVONIA simplifying daily tasks and improve productivity for individuals and businesses.

These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, and expected future developments, as well as other factors we believe are appropriate in the circumstances. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to use Majestic World Holdings LLC's real estate AI Platform to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance, MyVONIA's ability to simplify daily tasks and improve productivity, and other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and its subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.

For investor relations and media inquiries, please contact:

Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461

View original content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-updates-ex-dividend-date-for-the-previously-announced-dividend-302400442.html

SOURCE Safe and Green Development Corporation

FAQ

What is the stock dividend ratio announced by Safe and Green Development (SGD)?

SGD announced a stock dividend of 0.05 shares for each outstanding share, meaning shareholders will receive 1 additional share for every 20 shares held.

When is the record date for SGD's stock dividend?

The record date for SGD's stock dividend is April 7, 2025.

How will SGD handle fractional shares in the stock dividend?

Fractional shares will be settled in cash based on the opening price of SGD's common stock on April 8, 2025.

What date will SGD distribute the stock dividend to shareholders?

SGD will distribute the stock dividend after the close of trading on April 22, 2025.

What was the error in SGD's previous dividend announcement?

The previous announcement incorrectly stated that dividend-adjusted trading would begin on April 23, 2025, instead of the correct date of April 7, 2025.