Vornado Declares Quarterly Dividends On Preferred Shares
Vornado Realty Trust (NYSE: VNO) announced the declaration of quarterly preferred dividends for various series. Shareholders will receive:
- Series A Convertible: $0.8125 per share
- Series K Cumulative Redeemable: $0.35625 per share
- Series L Cumulative Redeemable: $0.3375 per share
- Series M Cumulative Redeemable: $0.328125 per share
Dividends are payable on October 1, 2020, to shareholders of record as of September 15, 2020. The company cautions that COVID-19 may materially impact its future performance.
- None.
- Ongoing adverse effects of the COVID-19 pandemic impacting business and financial condition.
- Uncertainty regarding future developments related to the pandemic affecting operational performance.
NEW YORK, July 30, 2020 (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 K Cumulative Redeemable | $ | .3562500 per share |
| Series L Cumulative Redeemable | $ | .3375000 per share |
| Series M Cumulative Redeemable | $ | .3281250 per share |
In each case, dividends are payable on October 1, 2020 to shareholders of record on September 15, 2020.
Vornado Realty Trust is a fully-integrated equity real estate investment trust.
CONTACT:
JOSEPH MACNOW
(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, 2019 and "Item 1A. Risk Factors" in Part II of our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020. Such factors include, among others, risks associated with the timing of and costs associated with property improvements, financing commitments 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 will 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, which are highly 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, 2019, as well as the risks set forth in "Item 1A. Risk Factors" in Part II of our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020.
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