BETHESDA, Md., Sept. 23, 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 October 29, 2021, to holders of
record on October 15, 2021. The
common dividend is the same as the amount paid in the previous
quarter and represents a $0.02 per
share (3.77%) increase over 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
October 15, 2021, to holders of
record on October 1, 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
June 30, 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
June 30, 2021.
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SOURCE Saul Centers, Inc.