UCASU's 2021 Net Income May Yield More Than $0.10 Per Share Dividend
On Nov. 8, 2021, UC Asset LP (OTCQX: UCASU) projected a strong net income for 2021, potentially allowing for a dividend of $0.10 per share. This announcement precedes the annual shareholder meeting on November 18, 2021. Managing partner Greg Bankston noted that investments from 2020 are expected to perform well, covering operational costs. While he expressed confidence in the cash position, caution was advised due to potential uncertainties in the portfolio. Eligible shareholders by year-end 2021 will receive the dividend, if declared.
- Projected net income for 2021 is expected to cover the proposed $0.10 dividend.
- Strong cash position indicates ability to support current business plans and proposed dividend.
- Uncertainty exists regarding the portfolio performance in the remaining months of 2021.
ATLANTA, Nov. 8, 2021 /PRNewswire/ -- UC Asset LP (OTCQX: UCASU)'s management projects today that the company's net income in 2021 will likely be more than adequate to deliver the proposed
The projection is made just 10 days before the company's annual shareholder meeting, which is scheduled for November 18, 2021, at 9:00 am eastern time. Due to COVID pandemic, this annual meeting will be held virtually as a Zoom meeting. Meeting notices have been sent to eligible shareholders in the past weeks.
"At this moment, it appears that some of our investments made in 2020 will yield great return in this year, and we will have more than enough investment gain to offset operating cost, and deliver the
However, Mr. Bankston cautions that there is still uncertainty regarding UC Asset's portfolio, and its business situation may change in the last two months of 2021. "Investors should keep things in perspective and take consideration of uncertainty." Mr. Bankston exhorts.
Another factor is that UC Asset's management has arbitrary power to withhold any amount of dividend for further investments. However, Mr. Bankston believes that the company has enough cash to support its current business plan, and a withholding of dividend is unlikely.
"Our cash position is strong. We believe we have adequate cash to distribute the proposed dividend, and beyond that, we are also seeking additional opportunities to invest," claims Bankston.
Any persons who hold UC Asset's shares by the end of the last trading day of the year 2021 will be eligible to receive dividends, if any.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
For More Information Contact:
Christal Jordan | Executive Director, UC Asset LP
cjordan@ucasset.com | 678-499-0297
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SOURCE UC Asset LP
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