Alpine Income Property Trust Increases Quarterly Dividend by 5.9% and Declares Dividend for the Fourth Quarter 2021
22 November 2021 - 10:10PM
Alpine Income Property Trust, Inc. (NYSE: PINE) (the “Company”)
announced today that its Board of Directors has authorized, and the
Company has declared a 5.9% increase in the Company’s quarterly
cash dividend to $0.27 per share of common stock for the fourth
quarter of 2021 as compared to its previous quarterly cash dividend
of $0.255 per share of common stock. The dividend is payable
on December 30, 2021 to stockholders of record as of the close of
business on December 9, 2021. The ex-dividend date for the
fourth quarter 2021 cash dividend is December 8, 2021. The fourth
quarter 2021 cash dividend represents a 22.7% year-over-year
increase as compared to the Company’s fourth quarter 2020 cash
dividend and an annualized yield of approximately 6.0% based on the
closing price of the common stock on November 19, 2021.
About Alpine Income Property Trust,
Inc.
Alpine Income Property Trust, Inc. (NYSE: PINE)
is a publicly traded real estate investment trust that acquires,
owns and operates a portfolio of high-quality single-tenant net
leased commercial income properties.
We encourage you to review our most recent
investor presentation which is available on our website at
http://www.alpinereit.com.
Safe Harbor
This press release may contain “forward-looking
statements.” Forward-looking statements include statements that may
be identified by words such as “could,” “may,” “might,” “will,”
“likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,”
“estimates,” “expects,” “continues,” “projects” and similar
references to future periods, or by the inclusion of forecasts or
projections. Forward-looking statements are based on the Company’s
current expectations and assumptions regarding capital market
conditions, the Company’s business, the economy and other future
conditions. Because forward-looking statements relate to the
future, by their nature, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. As a result, the Company’s actual results may
differ materially from those contemplated by the forward-looking
statements. Important factors that could cause actual results to
differ materially from those in the forward-looking statements
include general business and economic conditions, continued
volatility and uncertainty in the credit markets and broader
financial markets, risks inherent in the real estate business,
including tenant defaults, potential liability relating to
environmental matters, illiquidity of real estate investments and
potential damages from natural disasters, the impact of the
COVID-19 Pandemic on the Company’s business and the business of its
tenants and the impact on the U.S. economy and market conditions
generally, other factors affecting the Company’s business or the
business of its tenants that are beyond the control of the Company
or its tenants, and the factors set forth under “Risk Factors” in
the Company’s Annual Report on Form 10-K for the year ended
December 31, 2020 and other risks and uncertainties discussed from
time to time in the Company’s filings with the U.S. Securities and
Exchange Commission. Any forward-looking statement made in this
press release speaks only as of the date on which it is made. The
Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
Contact: |
Matthew M. Partridge Senior Vice President, Chief Financial Officer
& Treasurer (386) 944-5643 mpartridge@alpinereit.com |
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