UCASU to discuss $0.10 per share dividend on Nov 18 shareholder meeting
October 18 2021 - 9:30AM
InvestorsHub NewsWire
Atlanta, GA -- October 18, 2021 -- InvestorsHub NewsWire --
UC Asset LP (OTCQX:
UCASU) announces it will hold annual shareholder meeting on
November 18, 2021, at 9:00 am eastern time. Due to COVID pandemic,
this annual meeting will be held virtually as a Zoom meeting.
Among other topics, UC Asset's management will submit its 2021
dividend plan for shareholders to review and comment. Any persons
who hold UC Asset' shares by the end of the last trading day of the
year of 2021 will be eligible to receive dividends, if
any.
" Our most recent quarterly report 10-Q showed a 20%
organic growth of net equity over a 12 month period," Says Greg
Bankston, managing general partner of UC Asset. "If that trend may
continue, we will have over $1 million of undistributed profit. It
will be to the best interest of our company to distribute a
reasonable amount of investment gain as dividend. We plan to
distribute a minimum of $0.10 per share."
However, Bankston adds, that such dividend plan will be subject
to the final results of audited financial reports and other
possible changes of business situations. And holders of preferred
shares are entitled to receive preferred dividends before common
shareholders. Further, the bylaw of UC Asset gives management
arbitrary power to withhold dividend distribution if the management
believes it will be better to use those funds for further
investments.
"Our goal is to build a long term investment firm similar to
Warren Buffet's Berkshire Hathaway (NYSE: BRK.A), that investors
will realize their return from appreciation of market value of our
shares, without receiving any cash dividends," Explains Bankston.
"But before the trading volume of our share can support such a
scheme, we will continue to distribute cash dividend when we
believe it is to the best interest of our company."
UC Asset management will also discuss its business strategy on
its annual meeting. In late September, UC Asset announced that it
would expand its investment in cannabis properties, as part of its
effort to build "the most innovative portfolio in real estate".
According to the company's announcement, the "most innovative
portfolio in real estate" would consist of three major parts, which
are cannabis properties, Airbnb-based SHOC properties and historic
landmarks. More details about these investment strategies are
expected to be disclosed on the annual meeting.
Record date of this year's annual meeting is set as September
30, 2021. Any persons who held shares on and by the end of
the record date will be eligible to attend the annual shareholder
meeting. The company will send out both electronic and paper
invitations to eligible shareholders, except for objecting
beneficial owners, in the coming weeks.
About UC Asset LP
UC Asset LP is a limited partnership
formed for the purpose of investing in real estate with innovative
strategies, concentrating in metropolitan areas of Atlanta,
GA. For more
information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
For More Information Contact:
Christal Jordan | Executive Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297
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