Colony Credit Real Estate Announces Monthly Dividend for Common Stockholders
February 14 2020 - 4:01PM
Business Wire
Colony Credit Real Estate, Inc. (NYSE: CLNC) (“Colony Credit
Real Estate” or the “Company”) today announced that the Company’s
Board of Directors has declared its monthly cash dividend of $0.10
per share of class A common stock (the “Common Stock”) for the
monthly period ended February 29, 2020. The Common Stock dividend
will be paid on March 10, 2020, to stockholders of record on
February 29, 2020.
About Colony Credit Real Estate, Inc.
Colony Credit Real Estate (NYSE: CLNC) is one of the largest
publicly traded commercial real estate (CRE) credit REITs, focused
on originating, acquiring, financing and managing a diversified
portfolio consisting primarily of CRE senior mortgage loans,
mezzanine loans, preferred equity, debt securities and net leased
properties predominantly in the United States. Colony Credit Real
Estate is externally managed by a subsidiary of leading global real
estate and investment management firm, Colony Capital, Inc. Colony
Credit Real Estate is organized as a Maryland corporation that
elected to be taxed as a REIT for U.S. federal income tax purposes
beginning with its initial taxable year ended December 31, 2018.
For additional information regarding the Company and its management
and business, please refer to www.clncredit.com.
Forward-Looking Statement
This press release may contain forward-looking statements within
the meaning of the federal securities laws. Forward-looking
statements relate to expectations, beliefs, projections, future
plans and strategies, anticipated events or trends and similar
expressions concerning matters that are not historical facts. In
some cases, you can identify forward-looking statements by the use
of forward-looking terminology such as “may,” “will,” “should,”
“expects,” “intends,” “plans,” “anticipates,” “believes,”
“estimates,” “predicts,” or “potential” or the negative of these
words and phrases or similar words or phrases which are predictions
of or indicate future events or trends and which do not relate
solely to historical matters. Forward-looking statements involve
known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Among others, the following
uncertainties and other factors could cause actual results to
differ from those set forth in the forward-looking statements:
operating costs and business disruption may be greater than
expected; the Company's operating results may differ materially
from the information presented in the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2018, as well as
in Colony Credit Real Estate’s other filings with the Securities
and Exchange Commission; the fair value of the Company's
investments may be subject to uncertainties; the Company's use of
leverage could hinder its ability to make distributions and may
significantly impact its liquidity position; given the Company's
dependence on its external manager, an affiliate of Colony Capital,
Inc., any adverse changes in the financial health or otherwise of
its manager or Colony Capital, Inc. could hinder the Company's
operating performance and return on stockholder's investment; the
ability to realize substantial efficiencies as well as anticipated
strategic and financial benefits, including, but not limited to
expected returns on equity and/or yields on investments; adverse
impacts on the Company's liquidity, including its ability to
continue to generate liquidity from sales of Legacy, Non-Strategic
assets; the Company’s ability to liquidate its Legacy,
Non-Strategic assets within the projected timeframe or at the
projected values; the timing of and ability to deploy available
capital; the Company’s ability to maintain or grow the dividend at
all in the future; the timing of and ability to complete
repurchases of the Company’s stock; the ability of the Company to
refinance certain mortgage debt on similar terms to those currently
existing or at all; whether the Company will enter into a
definitive agreement with Colony Capital, Inc. to internalize
management and acquire the credit management business of Colony
Capital, Inc.; and the impact of legislative, regulatory and
competitive changes. The foregoing list of factors is not
exhaustive. Additional information about these and other factors
can be found in Part I, Item 1A of the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2018, as well as
in Colony Credit Real Estate’s other filings with the Securities
and Exchange Commission.
We caution investors not to unduly rely on any forward-looking
statements. The forward-looking statements speak only as of the
date of this press release. Colony Credit Real Estate is under no
duty to update any of these forward-looking statements after the
date of this press release, nor to conform prior statements to
actual results or revised expectations, and Colony Credit Real
Estate does not intend to do so.
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Investor Relations Colony Credit Real Estate, Inc. Addo
Investor Relations Lasse Glassen 310-829-5400
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