iStar Increases Common Dividend by 14% and Declares Preferred Stock Dividends

Rhea-AI Summary

iStar Inc. (NYSE: STAR) declared a quarterly common dividend increase to $0.125 per share from $0.11, effective June 15, 2021, for holders of record on June 1. This aligns with their ongoing strategy to enhance shareholder value while focusing on expanding their ground lease platform. Additionally, dividends for Preferred Stock include $0.50 for Series D, $0.478125 for Series G, and $0.46875 for Series I. With over $40 billion in transactions, iStar aims to capitalize on the $7 trillion institutional commercial real estate market.

Positive

• Quarterly common dividend increased by 14% to $0.125, reflecting company confidence.
• Consistent dividend growth strategy supports shareholder returns.
• Focus on expanding modern ground lease platform in the $7 trillion commercial real estate market.

Negative

• None.

NEW YORK, May 14, 2021 /PRNewswire/ -- iStar Inc. (NYSE: STAR) announced today that the Company's Board of Directors has declared quarterly dividends on the Company's Common Stock and Preferred Stock for the second quarter of 2021. The dividends are all payable on June 15, 2021 to holders of record on June 1, 2021.

The Board of Directors has increased the quarterly common dividend per share to $0.125 from $0.11 continuing its multi-year strategy to steadily increase the dividend, while focusing on scaling its modern ground lease platform.

Series of Stock	Liquidation Preference	Dividend Per Share
Common Stock (STAR)	N/A	$0.125
8.00% Series D Preferred Stock	$25.00	$0.50
7.65% Series G Preferred Stock	$25.00	$0.478125
7.50% Series I Preferred Stock	$25.00	$0.46875

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iStar Inc. (NYSE: STAR) is focused on reinventing the ground lease sector, unlocking value for real estate owners throughout the country by providing modern, more efficient ground leases on institutional quality properties. As the founder, investment manager and largest shareholder of  Safehold Inc. (NYSE: SAFE), the creator of the modern ground lease industry, iStar is using its national investment platform and its historic strengths in finance and net lease to expand the use of modern ground leases within the $7 trillion institutional commercial real estate market. Recognized as a consistent innovator in the real estate markets, iStar specializes in identifying and scaling newly discovered opportunities and has completed more than $40 billion of transactions over the past two decades. Additional information on iStar is available on its website at www.istar.com.

 

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SOURCE iStar Inc.

FAQ

When is the next dividend payment for iStar (STAR)?

The next dividend payment for iStar (NYSE: STAR) is scheduled for June 15, 2021.

What is the new common dividend amount declared by iStar?

iStar has increased its common dividend to $0.125 per share.

What are the dividends for iStar's preferred stocks?

The preferred stock dividends are $0.50 for Series D, $0.478125 for Series G, and $0.46875 for Series I.

What was the previous common dividend amount for iStar before the increase?

The previous common dividend amount was $0.11 per share.