NEW
YORK, Nov. 14, 2023 /PRNewswire/ -- Bluerock
Homes Trust, Inc. (NYSE American: BHM) (the "Company") today
announced that its Board of Directors (the "Board") has authorized
the payment of special dividends (the "Series A Preferred Special
Dividends") with respect to the Company's Series A Redeemable
Preferred Stock (the "Series A Preferred Stock"). The Company
intends to pay a special dividend (when applicable) which will be
seamlessly aggregated with the regular monthly dividend so as to
effect a dividend rate of 2% over the 10-Year Daily Treasury Par
Yield Curve Rate ("10-Year Treasury Rate") with a floor of 6%
annually, calculated and paid monthly.
By way of example, if the average 10-Year Treasury Rate is equal
to 5.0% for a particular month, the aggregate dividend per share
with respect to that month would be 1/12th of 7% (2%
over the 10-Year Treasury Rate) based on the Stated Value of
$25.00 per share, or $0.146. Conversely, if the average 10-Year
Treasury Rate is equal to 3.0% for a particular month, the
aggregate dividend per share with respect to that month would be
1/12th of the 6% annual dividend floor based on the
Stated Value of $25.00 per share, or
$0.125.
The Series A Preferred Special Dividends shall be declared for
each month for which the Board declares the regular monthly
dividend of $0.125 per outstanding
share of Series A Preferred Stock, commencing in November 2023, and shall be payable to the extent
the average 10-Year Treasury Rate exceeds 4.0%. The Series A
Preferred Special Dividends will be aggregated and payable in cash
on the 5th day of the following month. The average
10-Year Treasury Rate will be calculated based on the 10-Year
Treasury Rate for each day commencing on the 26th day of
the prior month and ending on the 25th day of the
applicable month.
About Bluerock Homes Trust, Inc.
Bluerock Homes
Trust, Inc. (NYSE American: BHM), headquartered in New York, New York, is an externally managed
REIT that owns and operates high-quality single-family properties
located in attractive markets with a focus on the knowledge-economy
and high quality of life regions of the Sunbelt and high growth
areas of the Western United
States. BHM's principal objective is to generate attractive
risk-adjusted investment returns by assembling a portfolio of
pre-existing single-family rental homes and developing
build-to-rent communities. BHM properties are located across a
diverse group of growth markets and will seek to target a growing
pool of middle-market renters seeking the single-family lifestyle
without the upfront and ongoing investments associated with home
ownership. For more information, please visit
bluerockhomes.com.
Forward Looking Statements
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and other federal
securities laws. These forward-looking statements are based upon
the Company's present expectations, but these statements are not
guaranteed to occur. Furthermore, the Company disclaims any
obligation to publicly update or revise any forward-looking
statement to reflect changes in underlying assumptions or factors,
of new information, data or methods, future events or other
changes. Investors should not place undue reliance upon
forward-looking statements. For further discussion
of the factors that could affect outcomes, please refer to
the risk factors set forth in Item 1A of the Company's
Annual Report on Form 10-K filed by the Company with the
U.S. Securities and Exchange Commission ("SEC")
on March 22, 2023, and
subsequent filings by the Company with the SEC. We claim
the safe harbor protection for forward looking statements contained
in the Private Securities Litigation Reform Act of 1995.
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SOURCE Bluerock Homes Trust, Inc.