Vornado Declares Quarterly Dividends On Preferred Shares

Rhea-AI Summary

Vornado Realty Trust (NYSE:VNO) announced the declaration of quarterly preferred dividends as follows:

• 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
• Series N Cumulative Redeemable: $0.328125 per share

These dividends are payable on July 1, 2021, to shareholders of record as of June 15, 2021.

Positive

• Declaration of preferred dividends indicates strong cash flow management.
• Confidence in maintaining dividend payments amidst market challenges.

Negative

• Ongoing risks associated with the COVID-19 pandemic.
• Potential impacts on financial condition and tenant performance.

NEW YORK, April 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 K Cumulative Redeemable	$	.3562500	per share
Series L Cumulative Redeemable	$	.3375000	per share
Series M Cumulative Redeemable	$	.3281250	per share
Series N Cumulative Redeemable	$	.3281250	per share

In each case, dividends are payable on July 1, 2021 to shareholders of record on June 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 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 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, 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, 2020.

FAQ

What are the preferred dividends declared by Vornado Realty Trust (VNO)?

The declared preferred dividends for Vornado Realty Trust (VNO) are: Series A Convertible: $0.8125; Series K: $0.35625; Series L: $0.3375; Series M: $0.328125; Series N: $0.328125 per share.

When will Vornado Realty Trust's preferred dividends be paid?

Vornado Realty Trust's preferred dividends are payable on July 1, 2021, to shareholders of record on June 15, 2021.

How frequently does Vornado Realty Trust (VNO) pay dividends?

Vornado Realty Trust (VNO) typically pays dividends quarterly.

What risks does Vornado Realty Trust (VNO) face regarding its dividends?

Vornado Realty Trust faces risks related to the ongoing COVID-19 pandemic, which could adversely affect its financial condition and tenant performance.