DALLAS – (BUSINESS WIRE) – December 9, 2021–
CIM Commercial Trust Corporation (NASDAQ: CMCT and TASE: CMCT-L) today announced that its board of directors has declared a quarterly cash dividend of $ 0.075 per common share. The dividend will be paid on January 5, 2022 to shareholders of record at the close of business on December 20, 2021.
In addition, the Board of Directors declared a cash dividend of $ 0.114583 per share of CMCT Series A preferred shares for the month of December 2021, which will be paid on January 18, 2022 to the Series A preferred shareholders. registered on January 5, 2022 and a quarterly cash dividend of $ 0.34375 per share of the Series A preferred shares of CMCT for the first quarter of 2022. The dividend will be payable as follows: $ 114,583 per share payable on February 15, 2022 to Series A preferred shareholders of record on February 5, 2022; $ 114,583 per share payable on March 15, 2022 to Series A preferred shareholders of record on March 5, 2022; and $ 0.114583 per share payable on April 15, 2022 to Series A preferred shareholders of record on April 5, 2022.
The Board of Directors also declared a cash dividend of $ 0.117708 per share of CMCT Series D preferred shares for the month of December 2021, which will be paid on January 18, 2022 to Series D preferred shareholders of record on January 5, 2022 and a cash dividend of $ 0.353125 per share of CMCT’s Series D preferred shares for the first quarter of 2022. The dividend will be payable as follows: $ 0.117708 per share payable on February 15, 2022 to Series D preferred shareholders of record on February 5, 2022; $ 0.117708 per share payable on March 15, 2022 to Series D preferred shareholders of record on March 5, 2022; and $ 0.117708 per share payable on April 15, 2022 to Series D preferred shareholders of record on April 5, 2022. For the shares of Series A preferred shares and Series D preferred shares issued in December 2021 or during for the first quarter of 2022, as applicable, the dividend will be prorated from the date of issue, and monthly dividend payments will reflect this pro rata, if applicable.
In addition, the Board of Directors declared an annual cash dividend of $ 1.56035 per share of the Series L preferred shares of CMCT. The dividend will be payable on January 25, 2022 to Series L shareholders of record at the close of business on December 31, 2021.
ABOUT CIM COMMERCIAL TRUST CORPORATION
CIM Commercial Trust is a real estate investment trust that primarily owns and operates Class A real estate and creative office assets in vibrant and improving metropolitan communities across the United States. CIM Commercial Trust, supported by the vast real estate capabilities of the CIM Group, seeks to focus on the acquisition, ownership, operation and development of creative office, multi-family, commercial, parking, industrial infill real estate assets. and limited service reception in communities qualified by the CIM Group. CIM Commercial Trust is operated by affiliates of CIM Group, LP, a vertically integrated owner and operator of real estate assets with multidisciplinary expertise and in-house capabilities for research, acquisition, credit analysis, development, financing, rental and property management on site. . (www.cimcommercial.com).
This press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), which are intended to be covered by the Ports as well created. These forward-looking statements are based on specific assumptions that CMCT’s management has made in light of its experience, as well as its perception of expected future developments and other factors it deems appropriate in the circumstances. Forward-looking statements are necessarily estimates reflecting the judgment of CMCT’s management and involve a number of risks and uncertainties which could cause actual results to differ materially from those suggested by forward-looking statements. These risks and uncertainties include those associated with (i) the scope, severity and duration of the current COVID-19 pandemic, and the measures taken to contain the pandemic or mitigate its impact, and the winding-up or termination of the COVID-19 programs. government assistance implemented to deal with the pandemic, (ii) the negative effect of COVID-19 on the financial position, results of operations, cash flow and performance of CMCT and its tenants and partners commercial, real estate market and the global economy and financial markets, among others, (iii) the timing, form and operational effects of CMCT’s development activities, (iv) CMCT’s ability to increase rents in place to existing market rents and to maintain or increase occupancy levels, (v) fluctuations in market rents, including due to COVID-19, and (vi) general economic, market conditions and others. Other significant factors that could cause CMCT’s actual results to differ materially from CMCT’s expectations are discussed in the “Risk Factors” section in CMCT’s Annual Report on Form 10-K for the year ended 31. December 2020. The forward-looking statements included in this document are based on current expectations and there can be no assurance that these expectations will be met. Assumptions relating to the foregoing involve judgments regarding, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to accurately predict and many of which are beyond CMCT’s control. Although CMCT believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions may be incorrect and, therefore, there can be no assurance that the forward-looking statements included herein will prove to be correct. In light of the material uncertainties inherent in the forward-looking statements included in this document, the inclusion of this information should not be construed as a representation by CMCT or any other person that the objectives and plans of CMCT will be achieved. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date on which they are made. CMCT does not undertake to update them to reflect changes that occur after the date on which they are made, except as required by applicable law.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211209006137/en/
CONTACT: Media Relations:
Steve Altebrando, 646-652-8473
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COMMERCIAL BUILDING AND REAL ESTATE CONSTRUCTION AND REAL ESTATE REIT
SOURCE: CIM Commercial Trust Corporation
Copyright Business Wire 2021.
PUB: 12/09/2021 19:30 / DISC: 12/09/2021 19:32
Copyright Business Wire 2021.