Griffin Announces 2018 Annual Dividend
November 15 2018 - 8:56AM
Griffin Industrial Realty, Inc. (NASDAQ: GRIF)
(“Griffin”) announced today that its Board of Directors
has declared an annual cash dividend of $0.45 per share on
Griffin’s common stock, representing an increase of $0.05 per share
from the annual cash dividend paid in December 2017. The dividend
is payable on December 7, 2018 to stockholders of record at the
close of business on November 30, 2018. The Board’s decision to
declare an annual dividend this fiscal year was based on Griffin’s
projected cash flow and operating results for the fiscal year
ending November 30, 2018 together with its expected cash position
over the next fiscal year. Prospectively, Griffin expects to
continue to consider the payment of an annual dividend late in the
fiscal year based on that fiscal year’s results and cash flows and
Griffin’s estimated future cash requirements.
Forward-Looking Statements:
This Press Release includes “forward-looking statements” 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. These forward-looking statements include Griffin's beliefs
and expectations regarding its expected cash position over the next
fiscal year and factors related to the declaration and payment of
future cash dividends. Although Griffin believes that its plans,
intentions and expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
plans, intentions or expectations will be achieved. The projected
information disclosed herein is based on assumptions and estimates
that, while considered reasonable by Griffin as of the date hereof,
are inherently subject to significant business, economic,
competitive and regulatory uncertainties and contingencies, many of
which are beyond the control of Griffin and which could cause
actual results and events to differ materially from those expressed
or implied in the forward-looking statements. Important factors
that could affect the outcome of the events set forth in these
statements include the risk that Griffin’s expected cash position
and factors related to the declaration and payment of future cash
dividends over the next fiscal year may result in Griffin not
paying cash dividends in future years, and the important factors
described in Griffin's Securities and Exchange Commission filings,
including the "Business," "Risk Factors" and "Forward-Looking
Information" sections in Griffin's Annual Report on Form 10-K for
the fiscal year ended November 30, 2017. Griffin disclaims any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release except
as required by law.
CONTACT:Anthony
GaliciChief Financial
Officer(860) 286-1307
Griffin Industrial Realty (NASDAQ:GRIF)
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