Sachem Capital Corp. Announces Dividend of $0.12 Per Share
December 22 2021 - 8:30AM
Sachem Capital Corp. (NYSE American: SACH) announced today that its
board of directors authorized and declared a quarterly dividend of
$0.12 per share to be paid to shareholders of record as of the
close of trading on the NYSE American on December 31, 2021. The
dividend will be payable on January 10, 2022.
John Villano, CPA, Chief Executive Officer of
Sachem Capital Corp., stated, “We are pleased to announce this
latest dividend reflecting our strong financial performance for
2021. We remain highly encouraged by the outlook for
2022 and believe we are well positioned as a leading non-bank real
estate lender to capitalize on new lending opportunities.”
About Sachem Capital Corp.
Sachem Capital Corp. specializes in originating,
underwriting, funding, servicing, and managing a portfolio of first
mortgage loans. It offers short-term (i.e., three years or less)
secured, nonbanking loans (sometimes referred to as “hard money”
loans) to real estate investors to fund their acquisition,
renovation, development, rehabilitation or improvement of
properties located primarily in Connecticut. The company does not
lend to owner occupants. The company’s primary underwriting
criteria is a conservative loan to value ratio. The properties
securing the company’s loans are generally classified as
residential or commercial real estate and, typically, are held for
resale or investment. Each loan is secured by a first
mortgage lien on real estate. Each loan is also personally
guaranteed by the principal(s) of the borrower, which guaranty may
be collaterally secured by a pledge of the guarantor’s interest in
the borrower. The company also makes opportunistic real estate
purchases apart from its lending activities. The company believes
that it qualifies as a real estate investment trust (REIT) for
federal income tax purposes and has elected to be taxed as a REIT
beginning with its 2017 tax year.
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. We
have based these forward-looking statements largely on our current
expectations and projections about future events and trends that we
believe may affect our 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 our Annual Report on Form 10-K for 2020 filed with the
U.S. Securities and Exchange Commission on March 31, 2021. 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 we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, level of activity,
performance or achievements. In addition, neither we nor any other
person assumes responsibility for the accuracy and completeness of
any of these forward-looking statements. We disclaim 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.
Investor & Media
Contact:Crescendo Communications, LLCEmail:
sach@crescendo-ir.comTel: (212) 671-1021
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