Vornado Declares Quarterly Dividends On Preferred Shares
Vornado Realty Trust (NYSE:VNO) has declared its quarterly preferred dividends, effective January 4, 2021, for shareholders on record as of December 15, 2020. The dividends are 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, and Series M Cumulative Redeemable - $0.328125 per share. The announcement reflects the company's commitment to delivering income to its shareholders despite ongoing challenges.
- Declared quarterly preferred dividends for Series A, K, L, and M, showing commitment to shareholder returns.
- Dividends payable on January 4, 2021, indicating reliable income for shareholders.
- COVID-19 pandemic adversely impacting business operations, financial performance, and tenants.
- Ongoing uncertainties regarding the pandemic's effects on the real estate market.
NEW YORK, Oct. 29, 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 January 4, 2021 to shareholders of record on December 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 10Q for the quarterly period ended June 30, 2020. Such factors include, amount 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 COVID19 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 economics and financial markets and the real estate market in general. The extent of the impact of the COVID19 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 COVID19 pandemic will heighten many of the risks identified in “Item 1A. Risk Factors” in Part I of our Annual Report on Form 10K 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 10Q for the quarterly period ended June 30, 2020.
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