BETHESDA, Md., June 25, 2021 /PRNewswire/ -- Saul Centers,
Inc. (NYSE: BFS) has declared a quarterly dividend of $0.55 per share on its common stock, to be paid
on July 30, 2021, to holders of
record on July 16, 2021. The common dividend represents a
$0.02 per share (3.77%) increase over
the amount paid in the previous quarter and the amount paid in the
prior year's comparable quarter.
The Company also declared quarterly dividends on (a) its 6.125%
Series D Cumulative Redeemable Preferred Stock, in the amount of
$0.3828125 per depositary share and
(b) its 6.000% Series E Cumulative Redeemable Preferred Stock, in
the amount of $0.3750000 per
depositary share. The preferred dividends will be paid on
July 15, 2021, to holders of record
on July 2, 2021.
Saul Centers, Inc. is a
self-managed, self-administered equity REIT headquartered in
Bethesda, Maryland, which
currently operates and manages a real estate portfolio of 61
properties which includes (a) 50 community and neighborhood
shopping centers and seven mixed-use properties with approximately
9.8 million square feet of leasable area and (b) four land and
development properties. Approximately 85% of the Saul Centers'
property operating income is generated by properties in the
metropolitan Washington,
DC/Baltimore area.
More information about Saul
Centers is available on the Company's website at
www.saulcenters.com.
Safe Harbor Statement
Safe Harbor Statement Certain matters discussed within this
press release may be deemed to be forward-looking statements within
the meaning of the federal securities laws. For these statements,
we claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995. Although the Company believes the expectations
reflected in the forward-looking statements are based on reasonable
assumptions, it can give no assurance that its expectations will be
attained. These factors include, but are not limited to, the risk
factors described in our Annual Report on (i) Form 10-K for the
year ended December 31, 2020 and (ii)
our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2021 and include the
following: (i) general adverse economic and local real estate
conditions, (ii) the inability of major tenants to continue paying
their rent obligations due to bankruptcy, insolvency or a general
downturn in their business, (iii) financing risks, such as the
inability to obtain equity, debt or other sources of financing or
refinancing on favorable terms to the Company, (iv) the Company's
ability to raise capital by selling its assets, (v) changes in
governmental laws and regulations and management's ability to
estimate the impact of such changes, (vi) the level and volatility
of interest rates and management's ability to estimate the impact
thereof, (vii) the availability of suitable acquisition,
disposition, development and redevelopment opportunities, and risks
related to acquisitions not performing in accordance with our
expectations, (viii) increases in operating costs, (ix) changes in
the dividend policy for the Company's common and preferred stock
and the Company's ability to pay dividends at current levels, (x)
the reduction in the Company's income in the event of multiple
lease terminations by tenants or a failure by multiple tenants to
occupy their premises in a shopping center, (xi) impairment
charges, (xii) unanticipated changes in the Company's intention or
ability to prepay certain debt prior to maturity and (xiii) an
epidemic or pandemic (such as the outbreak and worldwide spread of
COVID-19), and the measures that international, federal, state and
local governments, agencies, law enforcement and/or health
authorities implement to address it, which may (as with COVID-19)
precipitate or exacerbate one or more of the above-mentioned and/or
other risks, and significantly disrupt or prevent us from operating
our business in the ordinary course for an extended period. Given
these uncertainties, readers are cautioned not to place undue
reliance on any forward-looking statements that we make, including
those in this press release. Except as may be required by law, we
make no promise to update any of the forward-looking statements as
a result of new information, future events or otherwise. You should
carefully review the risks and risk factors included in (i) our
Annual Report on Form 10-K for the year ended December 31, 2020 and (ii) our Quarterly Report
on Form 10-Q for the quarter ended March 31,
2021.
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SOURCE Saul Centers, Inc.