Veris Residential Announces First Quarter Cash Dividend
Exciting News from Veris Residential, Inc.
Veris Residential, Inc. has announced a significant development for its investors. The company recently declared a quarterly cash dividend of $0.08 per share on its common stock, reflecting its commitment to providing returns to its shareholders. This announcement is particularly noteworthy as it marks a positive step in the company's overall financial strategy.
Understanding the Dividend Announcement
The cash dividend is applicable for the first quarter of 2025 and is set for distribution to shareholders of record on March 31, 2025. The payment date has been scheduled for April 10, 2025. This anticipated payment underscores Veris Residential's dedication to enhancing shareholder value. The Board of Directors has taken this decision after careful consideration of various financial factors.
Factors Influencing the Dividend Decision
The determination regarding the timing and amount of future cash dividends is contingent upon several key factors. These include the company's Adjusted Funds from Operations (AFFO), actual cash flows from operations, and a comprehensive assessment of taxable income and related distribution requirements. Additionally, ongoing capital requirements will play a critical role in shaping future dividend decisions.
About Veris Residential, Inc.
Veris Residential, Inc. operates as a progressive real estate investment trust (REIT) focused on the Northeast. The company specializes in owning, operating, acquiring, and developing high-quality Class A multifamily properties. With a technology-driven and vertically integrated operating model, Veris Residential is designed to provide a modern living experience that resonates with residents' expectations. This commitment to quality is supported by an experienced management team committed to strong corporate governance principles and an inclusive workplace culture.
The Company's Growth Strategy
With a forward-thinking approach, Veris Residential aims to continue expanding its portfolio in the multifamily space. This strategic growth is propelled by an understanding of market trends and an unwavering emphasis on quality and resident satisfaction. The company’s mission revolves around enhancing living standards while making a positive impact on the communities it serves.
Investor Relations and Further Information
For investors eager to learn more about Veris Residential and its management team, information is readily available. If you're interested in property leasing or other inquiries, Veris Residential's website offers extensive resources that detail their offerings and strategies. Those interested in direct communication can reach out to the investor relations department, where dedicated professionals are ready to assist.
For investor inquiries, Mackenzie Rice serves as the Director of Investor Relations. She can be reached at investors@verisresidential.com.
Inquiries from the media can be directed to Amanda Shpiner or Grace Cartwright at Gasthalter & Co. They are available at 212-257-4170 or via email at veris-residential@gasthalter.com.
Frequently Asked Questions
What is the declared dividend for Q1 2025?
The declared dividend for the first quarter of 2025 is $0.08 per share.
When will the dividend be paid?
The dividend will be paid on April 10, 2025, to shareholders of record as of March 31, 2025.
What factors determine future dividends?
Future dividends depend on the company's AFFO, cash flows, taxable income, and capital requirements.
Who can I contact for investor relations?
You can contact Mackenzie Rice, the Director of Investor Relations, at investors@verisresidential.com.
Where can I find more information about Veris Residential?
More information can be found on Veris Residential's official website.
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