BRT Apartments Corp. Initiates a Quarterly Dividend of $0.18 per share; Announces Renewal of a Stock Repurchase Program
September 12 2017 - 1:31PM
BRT Apartments Corp. (NYSE:BRT) announced that its Board of
Directors initiated and declared a quarterly dividend on the
Company’s common stock of $0.18 per share. The dividend is payable
October 4, 2017 to stockholders of record on September 25,
2017.
The Board of Directors also renewed, for two years beginning
October 1, 2017, the Company’s stock buyback plan, which authorizes
the Company to repurchase up to $5 million of common stock.
Jeffrey A. Gould, President and Chief Executive Officer stated,
“Given the Company’s successful repositioning as a multi-family
REIT, the Board of Directors declared a dividend and renewed its
stock buyback program. Supported by strong cash flow from
operations and year-over-year growth in adjusted funds from
operations per share, the Company initiated a quarterly dividend
program and, as appropriate, will continue to repurchase
stock”.
Forward-Looking Statements:
Certain information contained herein is forward looking within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. BRT intends such forward looking statements to be
covered by the safe harbor provisions for forward looking
statements contained in the Private Securities Litigation Reform
Act of 1995 and includes this statement for purposes of complying
with these safe harbor provisions. Forward-looking statements,
which are based on certain assumptions and describe our future
plans, strategies and expectations, are generally identifiable by
use of the words “may,” “will,” “believe,” “expect,” “intend,”
“anticipate,” “estimate,” “project,” or similar expressions or
variations thereof. Forward looking statements, including
statements with respect to BRT’s property ownership and operating
activities, involve known and unknown risks, uncertainties and
other factors, which, in some cases, are beyond BRT’s control and
could materially affect actual results, performance or
achievements. Investors are cautioned not to place undue reliance
on any forward-looking statements and to carefully review the
section entitled “Item 1A. - Risk Factors” in BRT’s Annual Report
on Form 10-K for the year ended September 30, 2016 and in the
Quarterly Reports on Form 10-Q filed thereafter.
About BRT Apartments Corp:
BRT is a real estate investment trust that directly, or through
joint ventures, owns and operates multi-family properties and other
real estate assets. Additional financial and descriptive
information on BRT, its operations and its portfolio, is available
at BRT’s website at: http://brtapartments.com. Interested parties
are encouraged to review its Form 10-K for the year ended September
30, 2016 and other reports filed with the Securities and Exchange
Commission for additional information.
Contact: Investor Relations
BRT APARTMENTS CORP.60 Cutter Mill RoadSuite
303Great Neck, New York 11021Telephone (516) 466-3100Telecopier
(516) 466-3132
http://brtapartments.com
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