Armada Hoffler Adjusts Record Date for Dividend Payments
In a recent update, Armada Hoffler (NYSE: AHH) has corrected the record date concerning the cash dividend for its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock. Initially announced on December 13, 2024, the adjustment specifies that the record date is now slated for January 2, 2025, rather than the previously stated December 31, 2024. This change ensures that stockholders are accurately informed of their dividend entitlements for the preferred shares.
Details of the Dividend Adjustment
The Board of Directors of Armada Hoffler has declared a cash dividend of $0.421875 per share, payable on January 15, 2025. Stockholders on record as of January 2, 2025, will receive this payment. It's essential for shareholders to note this adjustment to manage their investments effectively.
Understanding Armada Hoffler
Armada Hoffler is a prominent real estate investment trust (REIT), operating with a robust portfolio that spans over four decades. Their expertise lies in developing, building, acquiring, and managing properties that fall under various categories including office spaces, retail outlets, and multifamily residential complexes. The company focuses mainly on the Mid-Atlantic and Southeastern regions of the United States.
The Company’s Role in Real Estate
Founded by Daniel A. Hoffler in 1979, the company has been designed to function both as a developer and a service provider. They not only develop properties for their own investment but also offer construction and development services to third-party clients. This dual approach enhances their market position and supports diversification in their revenue streams.
Financial Overview of Armada Hoffler
As a self-managed REIT, Armada Hoffler elects for taxation as a REIT for U.S. federal income tax purposes. This status allows them to focus on providing substantial returns to their investors. Their commitment to maintaining a high-quality portfolio is evident in their selective approach to property development and management.
Looking Forward
The adjustments to dividend payments and operational strategies indicate the company's efforts to maintain transparency and reliability for their shareholders. Those looking to invest or keep up with Armada Hoffler's stock performance should take note of these changes to ensure they understand the implications for their investments.
Contacting Armada Hoffler
For any inquiries or further information, interested parties can reach out to Chelsea Forrest, the Vice President of Corporate Communications and Investor Relations at Armada Hoffler. She can be contacted via email at cforrest@armadahoffler.com or by phone at (757) 366-4000.
Frequently Asked Questions
What is the revised record date for Armada Hoffler's preferred stock dividend?
The new record date for the cash dividend on the 6.75% Series A Preferred Stock is January 2, 2025.
When will the cash dividend be paid?
The cash dividend will be paid on January 15, 2025.
What is the amount of the declared cash dividend?
The declared cash dividend amounts to $0.421875 per share.
Is Armada Hoffler actively involved in property development?
Yes, Armada Hoffler is actively involved in developing, building, and managing various real estate properties.
Who can I contact for more information about Armada Hoffler?
Chelsea Forrest, the Vice President of Corporate Communications and Investor Relations, can be contacted for more information.
