CIM Commercial Trust Declares Common and Preferred Stock Dividends
December 04 2018 - 9:45PM
Business Wire
CIM Commercial Trust Corporation (NASDAQ & TASE: CMCT), a
real estate investment trust (REIT) that primarily acquires, owns,
and operates Class A and creative office assets in vibrant and
improving urban communities throughout the United States, announced
today that its Board of Directors has declared a quarterly cash
dividend of $0.125 per common share. The dividend will be paid on
December 27, 2018 to shareholders of record at the close of
business on December 14, 2018.
In addition, the Board of Directors has declared a quarterly
cash dividend of $0.34375 per share of CMCT's Series A Preferred
Stock. For shares issued during the fourth quarter of 2018, the
dividend will be prorated from the time of issuance. The dividend
will be payable on January 15, 2019 to holders of record at the
close of business on January 5, 2019.
Further, the Board of Directors has declared an annual cash
dividend of $1.56035 per share of CMCT's Series L Preferred Stock.
The dividend to be paid for 2018 will also include a prorated
dividend to cover the period from and including the original date
of issuance of the Series L Preferred Stock to and including
December 31, 2017. The dividend will be payable on January 17, 2019
to holders of record at the close of business on December 31,
2018.
ABOUT CIM COMMERCIAL TRUST CORPORATION
CIM Commercial is a real estate investment trust that primarily
acquires, owns, and operates Class A and creative office assets in
vibrant and improving urban communities throughout the United
States. Its properties are primarily located in Los Angeles, the
San Francisco Bay Area and Washington, D.C. CIM Commercial is
operated by affiliates of CIM Group, L.P., a vertically-integrated
owner and operator of real assets with multi-disciplinary expertise
and in-house research, acquisition, credit analysis, development,
finance, leasing, and asset management capabilities
(www.cimcommercial.com).
FORWARD-LOOKING STATEMENTS
The information set forth herein contains "forward-looking
statements." You can identify these statements by the fact that
they do not relate strictly to historical or current facts or
discuss the business and affairs of CIM Commercial on a prospective
basis. Further, statements that include words such as "may,"
"will," "project," "might," "expect," “target,” "believe,"
"anticipate," "intend," "could," "would," "estimate," "continue,"
"pursue," "potential", "forecast", "seek", "plan", or "should" or
the negative or other words or expressions of similar meaning, may
identify forward-looking statements.
CIM Commercial bases these forward-looking statements on
particular assumptions that it has made in light of its experience,
as well as its perception of expected future developments and other
factors that it believes are appropriate under the circumstances.
These forward-looking statements are necessarily estimates
reflecting the judgment of CIM Commercial and involve a number of
risks and uncertainties that could cause actual results to differ
materially from those suggested by the forward-looking statements.
These forward-looking statements are subject to risks,
uncertainties and other factors, including, but not limited to,
those set forth in CIM Commercial's Annual Report on Form 10-K for
the fiscal year ended December 31, 2017, the Registration Statement
on Form S-11 (Reg. No. 333-210880) relating to the Series A
Preferred Stock, the Registration Statement on Form S-3 (Reg. No.
333-203639) relating to the sale of common stock by a selling
shareholder and the Registration Statement on Form S-4 (Reg. No.
333-227707) relating to the potential exchange offer for shares of
our Series L Preferred Stock.
As you read and consider the information herein, you are
cautioned to not place undue reliance on these forward-looking
statements. These statements are not guarantees of performance or
results and speak only as of the date hereof. These forward-looking
statements involve risks, uncertainties and assumptions. In light
of these risks and uncertainties, there can be no assurance that
the results and events contemplated by the forward-looking
statements contained herein will in fact transpire. New factors
emerge from time to time, and it is not possible for CIM Commercial
to predict all of them. Nor can CIM Commercial assess the impact of
each such factor or the extent to which any factor, or combination
of factors may cause results to differ materially from those
contained in any forward looking statement. CIM Commercial
undertakes no obligation to publicly update or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181204006206/en/
Media Relations:Bill Mendel,
212-397-1030bill@mendelcommunications.comorInvestor Relations:Steve
Altebrando, 646-652-8473shareholders@cimcommercial.com
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