Vornado Declares Quarterly Dividends On Preferred Shares
Vornado Realty Trust (NYSE:VNO) announced the declaration of quarterly preferred dividends for several series of shares. The dividends are as follows: Series A Convertible at $0.8125, Series L at $0.3375, Series M at $0.328125, Series N at $0.328125, and Series O at $0.3059375 per share. Notably, the Series O dividend includes an additional $0.0278125 for the period from September 22 to September 30, 2021. These dividends are payable on January 3, 2022, to shareholders of record on December 15, 2021.
- Stable dividend declarations reinforce investor confidence in Vornado's financial stability.
- Dividends offer a return to shareholders in a challenging economic environment.
- The ongoing impact of COVID-19 poses risks to future financial performance.
- Market uncertainty could affect real estate operations and cash flows.
NEW YORK, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Vornado Realty Trust (NYSE:VNO) announced today that its Board of Trustees has declared the following quarterly preferred dividends:
| Series A Convertible | $ | .8125000 | per share |
| Series L Cumulative Redeemable | $ | .3375000 | per share |
| Series M Cumulative Redeemable | $ | .3281250 | per share |
| Series N Cumulative Redeemable | $ | .3281250 | per share |
| Series O Cumulative Redeemable | $ | .3059375 | per share |
The Series O dividend includes $.0278125 per share from September 22, 2021 (settlement date) through September 30, 2021.
In each case, dividends are payable on January 3, 2022 to shareholders of record on December 15, 2021.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
CONTACT
Thomas Sanelli
(212) 894-7000
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of factors that could materially affect the outcome of our forward-looking statements and our future results and financial condition, see “Risk Factors” in Part I, Item 1A, of our Annual Report on Form 10-K for the year ended December 31, 2020. Such factors include, among others, risks associated with the performance of the Company’s properties and general competitive factors. Currently, one of the most significant factors is the ongoing adverse effect of the COVID-19 pandemic on our business, financial condition, results of operations, cash flows, operating performance and the effect it has had and may continue to have on our tenants, the global, national, regional and local economies and financial markets and the real estate market in general. The extent of the impact of the COVID-19 pandemic will depend on future developments, including the duration of the pandemic, current and future variants, the efficacy and durability of vaccines against the variants and the potential for increased government restrictions, which continue to be uncertain at this time but that impact could be material. Moreover, you are cautioned that the COVID-19 pandemic will heighten many of the risks identified in "Item 1A. Risk Factors" in Part I of our Annual Report on Form 10-K for the year ended December 31, 2020.
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