Retail Value Inc. Announces the Results of Dividend Election
January 11 2021 - 4:05PM
Business Wire
On January 11, 2021, Retail Value Inc. (NYSE:RVI) announced that
its common stock dividend of $1.16 per share payable on January 12,
2021 will be paid with approximately $2.1 million in cash and
approximately 1,255,000 common shares after giving effect to the
Puerto Rico withholding tax of 10% which is applicable to the full
$1.16 per share distribution.
- Holders of approximately 1.9 million shares elected to receive
the distribution in 100% RVI common shares and, after giving effect
to the Puerto Rico withholding tax of 10% on the full $1.16 per
share distribution, will receive $1.044 per share in RVI common
shares.
- Holders of approximately 17.9 million shares elected to receive
the distribution in 100% cash and, after giving effect to the
Puerto Rico withholding tax of 10% on the full $1.16 per share
distribution, will receive $0.115663 per share in cash (11.1%) and
$0.928337 per share in RVI common shares (88.9%).
The value of the distribution paid in common shares is based
upon the volume weighted average trading price of the Company’s
Common shares on December 31, 2020 and January 4 and January 5,
2021, or $14.8492 per share. All fractional shares will be paid in
cash.
About RVI
RVI is an independent publicly traded company trading under the
ticker symbol “RVI” on the New York Stock Exchange. RVI holds
assets in the continental U.S. and Puerto Rico and is managed by
one or more subsidiaries of SITE Centers Corp. RVI focuses on
realizing value in its business through operations and sales of its
assets. Additional information about RVI is available at
www.retailvalueinc.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210111005726/en/
Christa Vesy, EVP and Chief Financial Officer 216-755-5500
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