City Office REIT Confirms Upcoming Preferred Stock Dividend
City Office REIT Declares Preferred Stock Dividend
City Office REIT, Inc. (CIO) has officially announced its quarterly dividend of $0.4140625 per share for its 6.625% Series A Cumulative Redeemable Preferred Stock. This decision comes from the Company's Board of Directors, signifying a strong commitment to returning value to its shareholders. The dividends are scheduled to be paid on October 24 to all preferred stockholders who are on record by the end of business on October 10.
About City Office REIT
City Office REIT operates as an internally-managed real estate investment trust, specializing in the acquisition, ownership, and management of office properties mainly situated in the dynamic Sun Belt markets. The Company is noted for owning or controlling about 4.2 million square feet of valuable office space. This strategic approach positions City Office as a key player within the real estate investment trust sector, appealing to investors looking for solid opportunities.
Suspension of Common Stock Dividends
It's essential for investors to note that City Office has decided to suspend its quarterly dividends on common stock. This action is part of a broader strategic maneuver during the ongoing merger negotiations with MCME Carell Holdings, LP, which is an important aspect of the Company’s growth strategy. While the decision may raise concerns, it reflects a clear focus on enhancing overall value and stability for shareholders.
Current Market Position
As the backdrop of the real estate market evolves, City Office REIT remains focused on maximizing its portfolio value. The decision to maintain dividends on preferred stocks indicates strong financial health and ongoing commitment to profitability and shareholder satisfaction. Investors should monitor the market dynamics that could influence the Company's operational efficiencies and revenue growth in the future.
Contact Information
For inquiries regarding City Office REIT, interested parties can reach out directly to Anthony Maretic, the Chief Financial Officer. He can be contacted at +1-604-806-3366 or via email at investorrelations@cityofficereit.com.
Frequently Asked Questions
What is the announced dividend for City Office REIT?
The announced dividend for City Office REIT is $0.4140625 per share for its 6.625% Series A Cumulative Redeemable Preferred Stock.
When will the dividends be paid?
The dividends will be paid on October 24 to stockholders who are on record by October 10.
Why is City Office REIT suspending common stock dividends?
The suspension of common stock dividends is part of the Company’s strategy during its ongoing merger with MCME Carell Holdings.
What factors affect City Office REIT's market position?
City Office REIT's market position is influenced by its portfolio management, market conditions, and strategic decisions related to mergers and acquisitions.
How can I contact City Office REIT for more information?
For more information, you can contact Anthony Maretic at +1-604-806-3366 or via email at investorrelations@cityofficereit.com.
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