SITE Centers Declares First Quarter 2020 Class A and Class K Preferred Share Dividends
March 03 2020 - 4:05PM
Business Wire
SITE Centers Corp. (NYSE: SITC) declared its first quarter 2020
Preferred Class A stock dividend of $0.39844 per depositary share
and Preferred Class K stock dividend of $0.39063 per depositary
share.
Each Class A depositary share is equal to one-twentieth of a
share of SITE Centers’ 6.375% Class A Cumulative Redeemable
Preferred Stock. The declared Preferred Class A dividend covers the
period beginning January 15, 2020 and ending April 14, 2020. The
declared Preferred Class A Dividend is payable April 15, 2020 to
shareholders of record at the close of business on March 30,
2020.
Each Class K depositary share is equal to one-twentieth of a
share of SITE Centers’ 6.25% Class K Cumulative Redeemable
Preferred Stock. The declared Preferred Class K dividend covers the
period beginning January 15, 2020 and ending April 14, 2020. The
declared Preferred Class K Dividend is payable April 15, 2020 to
shareholders of record at the close of business on March 30,
2020.
About SITE Centers Corp.
SITE is an owner and manager of open-air shopping centers that
provide a highly-compelling shopping experience and merchandise mix
for retail partners and consumers. The Company is a
self-administered and self-managed REIT operating as a fully
integrated real estate company, and is publicly traded on the New
York Stock Exchange under the ticker symbol SITC. Additional
information about the Company is available at www.sitecenters.com.
To be included in the Company’s e-mail distributions for press
releases and other investor news, please click here.
Safe Harbor
SITE Centers Corp. considers portions of the information in this
press release to be 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, both as amended, with respect to
the Company's expectation for future periods. Although the Company
believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no
assurance that its expectations will be achieved. For this purpose,
any statements contained herein that are not historical fact may be
deemed to be forward-looking statements. There are a number of
important factors that could cause our results to differ materially
from those indicated by such forward-looking statements, including,
among other factors, local conditions such as increased supply of,
or a reduction in demand for, retail real estate in the area;
dependence on rental income from real property; the loss,
significant downsizing or bankruptcy of a major tenant and the
impact of any such event on rental income from other tenants and
our properties; the impact of e-commerce; redevelopment and
construction activities may not achieve a desired return on
investment; our ability to buy or sell assets on commercially
reasonable terms; our ability to complete acquisitions or
dispositions of assets under contract; our ability to secure equity
or debt financing on commercially acceptable terms or at all;
impairment charges; our ability to enter into definitive agreements
with regard to our financing and joint venture arrangements and our
ability to satisfy conditions to the completion of these
arrangements; the termination of any joint venture arrangements or
arrangements to manage real property; property damage, expenses
related thereto and other business and economic consequences
(including the potential loss of rental revenues) resulting from
extreme weather conditions or natural disasters in locations where
we own properties, and the ability to estimate accurately the
amounts thereof; sufficiency and timing of any insurance recovery
payments related to damages from extreme weather conditions or
natural disasters; any change in strategy; and our ability to
maintain REIT status. For additional factors that could cause the
results of the Company to differ materially from those indicated in
the forward-looking statements, please refer to the Company's most
recent report on Form 10-K for the year ended December 31, 2019.
The Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20200303005793/en/
Conor Fennerty, 216-755-5500 EVP and Chief Financial Officer
SITE Centers (NYSE:SITC)
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