Armada Hoffler Announces 12% Increase in Quarterly Cash Dividend on Common Shares
28 Juli 2022 - 12:00PM
Armada Hoffler Properties, Inc. (NYSE: AHH) announced that for the
third quarter of 2022, its Board of Directors declared a cash
dividend of $0.19 per common share, representing a 12% increase
over the prior quarter’s dividend. The third quarter cash dividend
will be payable on October 6, 2022 to stockholders of record on
September 28, 2022.
The Board of Directors also declared a cash
dividend of $0.421875 per share on its 6.75% Series A Cumulative
Redeemable Perpetual Preferred Stock payable on October 14, 2022 to
stockholders of record on October 3, 2022.
“Sustained growth across our entire portfolio,
accretive development projects coming online, and earnings poised
to surpass pre-pandemic levels, provided ample support for our
Board to increase the dividend,” said Louis Haddad, President &
CEO. “Higher occupancy and rent growth through positive releasing
spreads and apartment trade outs have resulted in significantly
higher earnings from our original projections. Combine our top-line
growth with effective cost management and mitigation of future
interest rate risk, and you have the recipe for higher bottom-line
earnings, cashflow, and therefore, dividends for our
shareholders.”
The Company will report its second quarter
earnings on Thursday, August 4, 2022.
Visit ir.ArmadaHoffler.com for call information.
About Armada HofflerArmada
Hoffler (NYSE: AHH) is a vertically-integrated, self-managed real
estate investment trust with over four decades of experience
developing, building, acquiring and managing high-quality office,
retail and multifamily properties located primarily in the
Mid-Atlantic and Southeastern United States. We also provide
general construction and development services to third-party
clients, in addition to developing and building properties to be
placed in our stabilized portfolio. Founded in 1979 by Daniel A.
Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S.
federal income tax purposes. For more information visit
ArmadaHoffler.com.
Forward-Looking
StatementsCertain matters within this press release are
discussed using forward-looking language as specified in the
Private Securities Litigation Reform Act of 1995, and, as such, may
involve known and unknown risks, uncertainties and other factors
that may cause the actual results or performance to differ from
those projected in the forward-looking statement. These
forward-looking statements may include comments relating to the
current and future performance of the Company’s operating property
portfolio, financing activities, acquisitions, dispositions, and
the Company’s financial outlook and expectations. For a description
of factors that may cause the Company’s actual results or
performance to differ from its forward-looking statements, please
review the information under the heading “Risk Factors” included in
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2021, and the other documents filed by the Company
with the Securities and Exchange Commission from time to time. The
Company expressly disclaims any obligation or undertaking to update
or revise any forward-looking statement contained herein, to
reflect any change in the Company's expectations with regard
thereto, or any other change in events, conditions or circumstances
on which any such statement is based, except to the extent
otherwise required by applicable law.
Contact:Chelsea ForrestArmada HofflerDirector
of Corporate Communications and Investor RelationsEmail:
CForrest@ArmadaHoffler.com Phone: (757) 366-6684
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