Armada Hoffler Properties Reinstates Cash Dividend on Common Shares
July 30 2020 - 6:00AM
Armada Hoffler Properties, Inc. (NYSE: AHH) announced that its
Board of Directors declared a cash dividend of $0.11 per common
share and Operating Partnership unit for the third quarter of 2020.
The third quarter dividend will be paid in cash on October 8, 2020
to stockholders of record on September 30, 2020.
“Given the uncertainty surrounding the pandemic
in April, we prudently and proactively suspended dividends on
common stock,” said Louis Haddad, President and Chief Executive
Officer. “Although we are far from sounding the all-clear, with our
monthly rent collection rates approaching pre-COVID levels, we
believe that now is the right time to reinstate the dividend at a
reasonable level with room for future growth. We appreciate the
Board’s confidence in our management team, our diversified business
model, and our future prospects. We look forward to our August
4th earnings call and intend to provide additional clarity on
the remainder of the year at that time.”
The Company also announced that its Board of
Directors declared a cash dividend of $0.421875 per share on its
6.75% Series A Cumulative Redeemable Perpetual Preferred Stock
payable on October 15, 2020, to stockholders of record on October
1, 2020.
About Armada Hoffler Properties,
Inc.Armada Hoffler Properties, Inc. (NYSE: AHH) is a
vertically-integrated, self-managed real estate investment trust
("REIT") with four decades of experience developing, building,
acquiring, and managing high-quality, institutional-grade office,
retail, and multifamily properties located primarily in the
Mid-Atlantic and Southeastern United States. In addition to
developing and building properties for its own account, the Company
also provides development and general contracting construction
services to third-party clients. Founded in 1979 by Daniel A.
Hoffler, the Company has elected to be taxed as a REIT for U.S.
federal income tax purposes. For more information, visit
ArmadaHoffler.com.
Contact:Michael P. O’HaraArmada Hoffler
Properties, Inc.Chief Financial Officer, Treasurer, and
SecretaryEmail: MOHara@ArmadaHoffler.com Phone: (757) 366-6684
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