Exantas Capital Corp. Declares Quarterly Cash Dividends for Series C Preferred Stock

Rhea-AI Summary

Exantas Capital Corp. (NYSE:XAN) has declared a cash dividend of $0.5390625 per share on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock for the period from October 31, 2020 to January 30, 2021. This dividend will be paid on February 1, 2021 to shareholders on record as of January 4, 2021. Exantas Capital focuses on originating and managing commercial real estate mortgage loans and related investments, primarily in areas like multifamily and student housing.

Positive

• Dividend declaration of $0.5390625 per share provides income for shareholders.
• Focus on commercial real estate indicates potential growth in high-demand markets.

Negative

• None.

WESTBURY, N.Y., Dec. 21, 2020 /PRNewswire/ -- Exantas Capital Corp. (NYSE:XAN) (the "Company") announced today that its Board of Directors declared a cash dividend on its 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock for the period from October 31, 2020 through and including January 30, 2021 in the amount of $0.5390625 per share. The dividend will be paid on February 1, 2021 to holders of record on January 4, 2021.

About Exantas Capital Corp.

Exantas Capital Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and other commercial real estate-related debt investments. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market CRE lending with a focus on multifamily, student housing, hospitality, office and independent senior living in top US markets. For more information, please visit the Company's website at www.exantas.com or contact investor relations at IR@exantas.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "trend," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.

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SOURCE Exantas Capital Corp.

FAQ

What is the dividend amount declared by Exantas Capital Corp. (XAN)?

Exantas Capital Corp. declared a dividend of $0.5390625 per share.

When will the dividend be paid to shareholders of XAN?

The dividend will be paid on February 1, 2021.

What is the record date for the dividend payment for XAN?

The record date for the dividend payment is January 4, 2021.

What period does the declared dividend for Exantas Capital (XAN) cover?

The declared dividend covers the period from October 31, 2020, to January 30, 2021.