Vornado Declares Quarterly Dividends on Preferred Shares

Rhea-AI Summary

Vornado Realty Trust (NYSE:VNO) has announced its quarterly preferred dividends, effective July 3, 2023, for shareholders recorded as of June 15, 2023. The declared dividends include:

• Series A Convertible: $0.8125 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
• Series O Cumulative Redeemable: $0.278125 per share

This announcement demonstrates the company's ongoing commitment to its shareholders through consistent dividend payments, despite existing economic challenges.

Positive

• Quarterly preferred dividends declared indicate a commitment to shareholder payments.
• Dividends provide a stable income source for shareholders.

Negative

• Interest rate increases and inflation present potential risks to future financial performance.

NEW YORK, April 26, 2023 (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	$	.2781250	per share

In each case, dividends are payable on July 3, 2023 to shareholders of record on June 15, 2023.

Vornado Realty Trust is a fully-integrated equity real estate investment trust.

CONTACT

Thomas J. 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. Forward-looking statements are not guarantees of performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. 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, 2022. Currently, some of the factors are the increase in interest rates and inflation and the continuing effect of the COVID-19 pandemic on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have 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.

FAQ

What are the preferred dividends announced by Vornado Realty Trust for July 2023?

Vornado Realty Trust announced preferred dividends of $0.8125 for Series A, $0.3375 for Series L, $0.328125 for Series M, $0.328125 for Series N, and $0.278125 for Series O.

When are the dividends payable for Vornado Realty Trust?

The dividends are payable on July 3, 2023, to shareholders of record on June 15, 2023.

How often does Vornado Realty Trust pay dividends?

Vornado Realty Trust typically pays dividends quarterly.

What factors could impact Vornado Realty Trust's dividend payments in the future?

Potential impacts on dividends may arise from interest rate increases, inflation, and economic conditions affecting their tenants.