SITE Centers Declares Second Quarter 2020 Class A and Class K Preferred Share Dividends
June 02 2020 - 4:05PM
Business Wire
SITE Centers Corp. (NYSE: SITC) declared its second quarter 2020
Preferred Class A stock dividend of $0.39844 per depositary share
and Preferred Class K stock dividend of $0.39063 per depositary
share.
Each Class A depositary share is equal to one-twentieth of a
share of SITE Centers’ 6.375% Class A Cumulative Redeemable
Preferred Stock. The declared Preferred Class A dividend covers the
period beginning April 15, 2020 and ending July 14, 2020. The
declared Preferred Class A Dividend is payable July 15, 2020 to
shareholders of record at the close of business on June 29,
2020.
Each Class K depositary share is equal to one-twentieth of a
share of SITE Centers’ 6.25% Class K Cumulative Redeemable
Preferred Stock. The declared Preferred Class K dividend covers the
period beginning April 15, 2020 and ending July 14, 2020. The
declared Preferred Class K Dividend is payable July 15, 2020 to
shareholders of record at the close of business on June 29,
2020.
About SITE Centers Corp.
SITE Centers is an owner and manager of open-air shopping
centers that provide a highly-compelling shopping experience and
merchandise mix for retail partners and consumers. The Company is a
self-administered and self-managed REIT operating as a fully
integrated real estate company, and is publicly traded on the New
York Stock Exchange under the ticker symbol SITC. Additional
information about the Company is available at www.sitecenters.com.
To be included in the Company’s e-mail distributions for press
releases and other investor news, please click here.
Safe Harbor
SITE Centers Corp. considers portions of the information in this
press release to be forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, both as amended, with respect to
the Company's expectation for future periods. Although the Company
believes that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, it can give no
assurance that its expectations will be achieved. For this purpose,
any statements contained herein that are not historical fact may be
deemed to be forward-looking statements. There are a number of
important factors that could cause our results to differ materially
from those indicated by such forward-looking statements, including,
among other factors, the impact of the outbreak of COVID-19 on the
Company’s ability to manage its properties, finance its operations
and perform necessary administrative and reporting functions and on
tenants’ ability to operate their businesses, generate sales and
meet their financial obligations, including the obligation to pay
rent; local conditions such as the supply of, and demand for,
retail real estate space in the area; the impact of e-commerce;
dependence on rental income from real property; the loss of,
significant downsizing of or bankruptcy of a major tenant and the
impact of any such event on rental income from other tenants and
our properties; redevelopment and construction activities may not
achieve a desired return on investment; our ability to buy or sell
assets on commercially reasonable terms; our ability to complete
acquisitions or dispositions of assets under contract; our ability
to secure equity or debt financing on commercially acceptable terms
or at all; impairment charges; our ability to enter into definitive
agreements with regard to our financing and joint venture
arrangements and our ability to satisfy conditions to the
completion of these arrangements; valuation and risks relating to
our joint venture and preferred equity investments; the termination
of any joint venture arrangements or arrangements to manage real
property; property damage, expenses related thereto and other
business and economic consequences (including the potential loss of
rental revenues) resulting from extreme weather conditions or
natural disasters in locations where we own properties, and the
ability to estimate accurately the amounts thereof; sufficiency and
timing of any insurance recovery payments related to damages from
extreme weather conditions or natural disasters; any change in
strategy and our ability to maintain REIT status. For additional
factors that could cause the results of the Company to differ
materially from those indicated in the forward-looking statements,
please refer to the Company's most recent reports on Form 10-K and
Form 10-Q. The impacts of COVID-19 may also exacerbate the risks
described therein, any of which could have a material effect on the
Company. The Company undertakes no obligation to publicly revise
these forward-looking statements to reflect events or circumstances
that arise after the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20200602005267/en/
Conor Fennerty, 216-755-5500 EVP and Chief Financial Officer
SITE Centers (NYSE:SITC)
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