Wheeler Real Estate Investment Trust, Inc. Announces Expected Dividend Payment Schedule for 2017
April 05 2017 - 4:35PM
Wheeler Real Estate Investment Trust, Inc.
(NASDAQ:WHLR) (“Wheeler” or the “Company”), a fully-integrated,
self-managed commercial real estate investment company focused on
acquiring and managing income-producing retail properties with a
primary focus on grocery-anchored centers, today announced its
expected dividend payment schedule, subject to board approval, for
the next four record dates. This information is being provided to
assist shareholders with the dividend payment schedule relative to
the Company’s eight for one reverse stock split and transition to
quarterly dividend payments from monthly payments as previously
announced by the Company in February and April 2017.
Previously Amended Dividend Payout
Schedule
The Company previously amended its dividend
payment schedule such that future dividends are expected to be paid
quarterly commencing in July 2017. Giving effect to the reverse
stock split, the expected distribution rate will be multiplied by
8, or $0.42 per share on a quarterly basis. The next four expected
record dates and dividend payment dates are set out in the table
below:
Record
date |
|
Payable
date |
|
Amount |
June 30, 2017 |
|
July 15, 2017 |
|
$0.42 |
September 29, 2017 |
|
October 15, 2017 |
|
$0.42 |
December 29, 2017 |
|
January 15, 2018 |
|
$0.42 |
March 30, 2018 |
|
April 15, 2018 |
|
$0.42 |
About Wheeler Real Estate Investment
Trust, Inc.
Headquartered in Virginia Beach, VA, Wheeler
Real Estate Investment Trust, Inc. is a fully-integrated,
self-managed commercial real estate investment company focused on
acquiring and managing income-producing retail properties with a
primary focus on grocery-anchored centers. Wheeler’s portfolio
contains well-located, potentially dominant retail properties in
secondary and tertiary markets that generate attractive,
risk-adjusted returns, with a particular emphasis on
grocery-anchored retail centers.
Additional information about Wheeler Real Estate
Investment Trust, Inc. can be found at the Company’s corporate
website: www.whlr.us.
Forward-Looking StatementThis
press release may contain “forward-looking” statements as defined
in the Private Securities Litigation Reform Act of 1995. When the
Company uses words such as “may,” “will,” “intend,” “should,”
“believe,” “expect,” “anticipate,” “project,” “estimate” or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company’s expectations discussed in the
forward-looking statements. For example, this press release states
that the Company’s quarterly dividend rate on the Company’s common
stock is $0.42 per share. A possible implication of this statement
is that the Company will continuously pay quarterly dividends on
the Company’s common stock of $0.42 per share, or $1.68 per share
per year in the future. The Company’s dividend rates are set and
may be reset from time to time by its Board of Directors. The
Company’s Board of Directors will consider many factors when
setting dividend rates, including the Company’s historical and
projected income, normalized funds from operations, the then
current and expected needs and availability of cash to pay the
Company’s obligations, distributions which may be required to be
paid to maintain the Company’s tax status as a real estate
investment trust and other factors deemed relevant by the Board of
Directors in its discretion. Accordingly, future dividend rates may
be increased or decreased and there is no assurance as to the rate
at which future dividends will be paid. For these reasons, among
others, investors are cautioned not to place undue reliance upon
any forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the U.S.
Securities and Exchange Commission, which are available for review
at www.sec.gov. The Company undertakes no obligation to publicly
revise these forward‐looking statements to reflect events or
circumstances that arise after the date hereof.
CONTACT:
Wheeler Real Estate Investment Trust, Inc.
Wilkes Graham
Chief Financial Officer
(757) 627-9088
Wilkes@whlr.us
Laura Nguyen
Director of Investor Relations
(757) 627-9088
Laura@whlr.us
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