Vornado Declares Quarterly Common Dividend of $.375 Per Share
January 18 2023 - 4:59PM
Vornado Realty Trust (NYSE:VNO) announced today that its Board of
Trustees has declared a reduced quarterly dividend of $.375 per
share. The decrease is in recognition of the current state of the
economy and capital markets and is reflective of Vornado’s reduced
projected 2023 taxable income, primarily due to higher interest
expense.
The dividend will be payable on February 10,
2023 to common shareholders of record on January 30, 2023.
Vornado Realty Trust is a fully-integrated
equity real estate investment trust.
CONTACT
Thomas J. Sanelli(212) 894-7000
Certain statements contained herein may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are not guarantees of performance. They represent
our intentions, plans, expectations and beliefs and are subject to
numerous assumptions, risks and uncertainties. Our future
results, financial condition and business may differ materially
from those expressed in these forward-looking statements. You can
find many of these statements by looking for words such as
"approximates," "believes," "expects," "anticipates," "estimates,"
"intends," "plans," "would," "may" or other similar expressions in
this press release. We also note the following forward-looking
statements: in the case of our development and redevelopment
projects, the estimated completion date, estimated project cost,
projected incremental cash yield, stabilization date and cost to
complete; and estimates of future capital expenditures, dividends
to common and preferred shareholders and operating partnership
distributions. For a discussion of factors that could materially
affect the outcome of our forward-looking statements and our future
results and financial condition, see “Risk Factors” in Part I, Item
1A, of our Annual Report on Form 10-K for the year ended December
31, 2021. Currently, some of the factors are the ongoing adverse
effect of the COVID-19 pandemic, the increase in interest rates and
inflation on our business, financial condition, results of
operations, cash flows, operating performance and the effect that
these factors have had and may continue to have on our tenants, the
global, national, regional and local economies and financial
markets and the real estate market in general. The extent of the
impact of the COVID-19 pandemic will continue to depend on future
developments, including vaccination rates among the population, the
efficacy and durability of vaccines against emerging variants, and
governmental and tenant responses thereto, which continue to be
uncertain but the impact could be material. Moreover, you are
cautioned that the COVID-19 pandemic will heighten many of the
risks identified in "Item 1A. Risk Factors" in Part I of our Annual
Report on Form 10-K for the year ended December 31, 2021.
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