CIM Commercial Trust Declares Common and Preferred Stock Dividends
December 03 2019 - 7:00PM
Business Wire
CIM Commercial Trust Corporation (NASDAQ: CMCT and TASE:
CMCT-L), a real estate investment trust (REIT) that primarily
acquires, owns, and operates Class A and creative office assets in
vibrant and improving metropolitan communities throughout the
United States, announced today that its Board of Directors has
declared a quarterly cash dividend of $0.075 per common share. The
dividend will be paid on December 27, 2019 to shareholders of
record at the close of business on December 13, 2019.
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 2019, the
dividend will be prorated from the time of issuance. The dividend
will be payable on January 15, 2020 to holders of record at the
close of business on January 5, 2020.
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 will be payable on January 16, 2020 to holders of
record at the close of business on December 31, 2019.
ABOUT CIM COMMERCIAL TRUST CORPORATION
CIM Commercial Trust is a real estate investment trust that
primarily acquires, owns, and operates Class A and creative office
assets in vibrant and improving metropolitan communities throughout
the United States. Its properties are primarily located in Los
Angeles and the San Francisco Bay Area. CIM Commercial Trust 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 onsite property management capabilities.
(www.cimcommercial.com).
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements are based on particular
assumptions that management of CIM Commercial 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. 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 risks and uncertainties include those associated
with (i) the timing, form and operational effects of CIM
Commercial's development activities, (ii) the ability of CIM
Commercial to raise in place rents to existing market rents, and
(iii) general economic, market and other conditions. For a further
list and description of the risks and uncertainties inherent in
forward-looking statements, see CIM Commercial's Annual Report on
Form 10-K for the fiscal year ended December 31, 2018 and the
Registration Statement on Form S-11 (No. 333-210880) relating to
the Series A preferred stock.
Forward-looking statements are not guarantees of performance or
results and speak only as of the date such statements are made. CIM
Commercial undertakes no obligation to publicly update or release
any revisions to its forward-looking statements, whether to reflect
new information, future events, changes in assumptions or
circumstances or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20191203006064/en/
Media Relations: Bill Mendel, 212-397-1030
bill@mendelcommunications.com or Investor Relations: Steve
Altebrando, 646-652-8473 investors@cimcommercial.com
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