SITE Centers Declares Second Quarter 2024 Class A Preferred Share Dividend

Rhea-AI Summary

SITE Centers Corp. (NYSE: SITC), a prominent owner of open-air shopping centers in affluent suburban areas, has announced its second quarter 2024 dividend for Class A Preferred shares. The dividend is set at $0.39844 per depositary share, each representing one-twentieth of SITE Centers' 6.375% Class A Cumulative Redeemable Preferred Stock.

This dividend covers the period from April 15, 2024, to July 14, 2024, and will be paid in cash on July 15, 2024, to shareholders of record by the close of business on June 28, 2024.

Positive

• Declared dividend of $0.39844 per depositary share for Class A Preferred stock.
• Payment date set for July 15, 2024.
• Dividend covers the period from April 15, 2024, to July 14, 2024.
• Company's focus on suburban, high household income communities may indicate a stable revenue base.

Negative

• No mention of common stock dividends, which might concern common shareholders.
• Dividend yield of 6.375% might be lower compared to potential market opportunities.

BEACHWOOD, Ohio--(BUSINESS WIRE)-- SITE Centers Corp. (NYSE: SITC), an owner of open-air shopping centers in suburban, high household income communities, today declared its second quarter 2024 Preferred Class A stock dividend of $0.39844 per depositary share.

Each Class A depositary share is equal to one-twentieth of a share of SITE Centers’ 6.375% Class A Cumulative Redeemable Preferred Stock. The declared Preferred Class A dividend covers the period beginning April 15, 2024 and ending July 14, 2024. The declared Preferred Class A Dividend is payable in cash on July 15, 2024 to shareholders of record at the close of business on June 28, 2024.

About SITE Centers Corp.

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240531598480/en/

Conor Fennerty, EVP and Chief Financial Officer

216-755-5500

Source: SITE Centers Corp.

FAQ

What is the dividend amount for SITE Centers' Class A Preferred stock for Q2 2024?

The dividend amount for SITE Centers' Class A Preferred stock for Q2 2024 is $0.39844 per depositary share.

When will SITE Centers pay the Q2 2024 dividend for Class A Preferred stock?

SITE Centers will pay the Q2 2024 dividend for Class A Preferred stock on July 15, 2024.

What is the record date for SITE Centers' Q2 2024 Class A Preferred stock dividend?

The record date for SITE Centers' Q2 2024 Class A Preferred stock dividend is June 28, 2024.

What period does the Q2 2024 Class A Preferred stock dividend cover?

The Q2 2024 Class A Preferred stock dividend covers the period from April 15, 2024, to July 14, 2024.

What is the dividend yield of SITE Centers' 6.375% Class A Cumulative Redeemable Preferred Stock?

The dividend yield of SITE Centers' 6.375% Class A Cumulative Redeemable Preferred Stock is 6.375%.