Sachem Capital Corp. Announces Third Quarter Dividend of $0.12 Per Share
October 07 2019 - 8:00AM
Business Wire
Sachem Capital Corp. (NYSE American: SACH) announced today that
on October 3, 2019 its board of directors authorized and declared a
third quarter dividend of $0.12 per share to be paid to
shareholders of record as of the close of trading on the NYSE
American on October 14, 2019. The dividend will be payable on
October 22, 2019.
John Villano, CPA, co-chief executive officer and chief
financial officer of Sachem Capital Corp., stated: “Following the
recent restructuring of our balance sheet, we now have greater
flexibility to originate new loans, have committed resources to
grow our mortgage loan portfolio and, consequently, anticipate
improved profitability as well as cash flow in the second half of
2019. In line with our mission to provide investors attractive
risk-adjusted returns, the Board has decided to maintain our
dividend of $0.12 per share with respect to the recently completed
third quarter.”
About Sachem Capital, Corp.
Sachem Capital Corp. (the “Company”) specializes in originating,
underwriting, funding, servicing and managing a portfolio of
mortgage loans secured by first mortgage liens on real property
(referred to in the industry as “hard money” loans). Its customers
include real estate investors and developers who use the proceeds
of the loans to fund their acquisition, renovation, development,
rehabilitation and/or improvement of properties located primarily
in Connecticut. The properties securing the Company’s loans are
generally classified as residential or commercial real estate and,
typically, are held for resale or investment. The Company does not
lend to owner occupants. The Company’s primary underwriting
criteria is a conservative loan to value ratio. The Company
believes that it qualifies and operates as a real estate investment
trust (REIT) for federal income tax purposes.
Forward Looking Statements
This press release may contain forward-looking statements. All
statements other than statements of historical facts contained in
this press release, including statements regarding our future
results of operations and financial position, strategy and plans,
and our expectations for future operations, are forward-looking
statements. The words “anticipate,” “estimate,” “expect,”
“project,” “plan,” “seek,” “intend,” “believe,” “may,” “might,”
“will,” “should,” “could,” “likely,” “continue,” “design,” and the
negative of such terms and other words and terms of similar
expressions are intended to identify forward- looking statements.
These forward-looking statements are based on current expectations
and projections about future events and trends that the Company
believes may affect its financial condition, results of operations,
strategy, short-term and long-term business operations and
objectives and financial needs. These forward-looking statements
are subject to several risks, uncertainties and assumptions as
described in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2018 filed with the U.S. Securities and Exchange
Commission on March 29, 2019. Because of these risks, uncertainties
and assumptions, the forward-looking events and circumstances
discussed in this press release may not occur, and actual results
could differ materially and adversely from those anticipated or
implied in the forward-looking statements. You should not rely upon
forward-looking statements as predictions of future events.
Although the Company believes that the expectations reflected in
the forward-looking statements are reasonable, the Company cannot
guarantee future results, level of activity, performance or
achievements. In addition, neither the Company nor any other person
assumes responsibility for the accuracy and completeness of any of
these forward-looking statements. The Company disclaims any duty to
update any of these forward-looking statements. All forward-looking
statements attributable to us are expressly qualified in their
entirety by these cautionary statements as well as others made in
this press release. You should evaluate all forward-looking
statements made by us in the context of these risks and
uncertainties.
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Investors & Media: Crescendo Communications, LLC
Email: sach@crescendo-ir.com Tel: (212) 671-1021
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