AFC Gamma Announces First Post-Spin Dividend for the Third Quarter 2024
Rhea-AI Summary
AFC Gamma, Inc. (Nasdaq: AFCG), a leading commercial mortgage REIT for cannabis operators, has announced its first post-spin dividend for the third quarter of 2024. The company's Board of Directors has declared a quarterly dividend of $0.33 per outstanding share of common stock, payable on October 15, 2024, to stockholders of record as of September 30, 2024.
AFC Gamma specializes in providing institutional loans to state law compliant cannabis operators in the U.S., with loan amounts ranging from $10 million to over $100 million. These loans are typically secured by quality real estate assets, license value, and cash flows. The company leverages its management team's extensive network and expertise in credit and cannabis to originate, structure, and underwrite these loans.
Positive
- Declared quarterly dividend of $0.33 per share
- Maintains dividend payout post-spin-off
- Demonstrates ability to generate shareholder returns in cannabis sector
Negative
- None.
News Market Reaction – AFCG
On the day this news was published, AFCG gained 1.87%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
WEST PALM BEACH, Fla., Sept. 13, 2024 (GLOBE NEWSWIRE) -- AFC Gamma, Inc. (Nasdaq:AFCG) (“AFC”) today announced its dividend for the quarter ending September 30, 2024.
The Board of Directors of AFC declared a quarterly dividend of
About AFC Gamma, Inc.
AFC Gamma, Inc. (Nasdaq: AFCG) is a leading commercial mortgage REIT that provides institutional loans to state law compliant cannabis operators in the U.S. Through the management team’s deep network and significant credit and cannabis expertise, AFC originates, structures and underwrites loans ranging from
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the company’s current views and projections with respect to, among other things, operating results and borrower activity. All statements other than historical facts, are forward-looking statements. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. Certain factors, risks and uncertainties discussed under the caption “Risk Factors” and elsewhere in AFC’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings, could cause actual results and performance to differ materially from those projected in these forward-looking statements.
Investor Relations Contact:
Robyn Tannenbaum
(561) 510-2293
ir@afcgamma.com
advancedflowercapital.com
Media Contact:
Profile Advisors
Rich Myers and Rachel Goun
(347) 343-2999
afcgamma@profileadvisors.com
FAQ
What is AFC Gamma's (AFCG) dividend for Q3 2024?
When will AFC Gamma (AFCG) pay its Q3 2024 dividend?
What types of loans does AFC Gamma (AFCG) provide to cannabis operators?
Is this AFC Gamma's (AFCG) first dividend after a spin-off?
