Apollo Commercial Real Estate Finance, Inc. Declares Initial Cash Liquidating Distribution

Investors must hold their shares through October 29, 2026, to retain the right to the initial liquidating distribution.

Rhea-AI Summary

Apollo Commercial Real Estate Finance (NYSE: ARI) declared an initial cash liquidating distribution payable to common stockholders on October 29, 2026.

The distribution is $4.10 per common share, with an October 20 record date. The NYSE set the ex-dividend date at October 30, 2026, the first business day after payment, because the distribution represents more than 25% of the common share price.

Stockholders approved liquidation and dissolution on September 29, 2026. The company plans to sell all assets in an orderly fashion and return net sale proceeds and cash on hand, subject to paying liabilities and obligations and creating associated reserves.

2 points · 1 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Planned asset sales aim to return net sale proceeds and cash on hand to stockholders.
• Moderate point. Forward-looking: it has not happened yet and may not happen.$4.10 per common share initial cash liquidating distribution is payable October 29, 2026.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Further capital returns are subject to payment of liabilities and obligations and creation of associated reserves.

News Explained

For the declared distribution, NYSE due bills assign the payment right to shares traded from the October 20 record date through the October 29 payment date. A seller during that period transfers the right to the buyer; brokers customarily settle the due-bill obligation, and the company has no obligation for its amount or processing.

Key Figures

Initial cash liquidating distribution: $4.10 per share Record date: October 20, 2026 Payment date: October 29, 2026 +2 more

Initial cash liquidating distribution

$4.10 per share

Declared for common stockholders

Record date

October 20, 2026

Common stockholders of record

Payment date

October 29, 2026

Initial cash liquidating distribution

Ex-dividend date

October 30, 2026

First business day after the payment date

Due-bill threshold

More than 25% of the share price

NYSE due bills apply to the distribution

Historical Context

1 past event · Latest: Jun 15

1 event

1. Jun 15

   Liquidation plan

   24h Move

   +1.6%

   Board backed complete liquidation subject to stockholder approval.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

liquidating distribution, ex-dividend date, due bills

3 terms

liquidating distribution financial

"declared an initial cash liquidating distribution of $4.10 per share"

A liquidating distribution is a payment made to shareholders when a company is winding up or selling off its assets, returning the investors’ share of the cash left after debts are paid. Think of it as splitting the proceeds from selling a house: creditors are paid first, then remaining money is handed back to owners; for investors this signals a company is ending operations and affects how much capital they recover and how it’s taxed.

ex-dividend date financial

"the ex-dividend date for the Initial Liquidating Distribution"

The ex-dividend date is the date when a stock starts trading without the value of its next dividend payment included. If you buy the stock on or after this date, you won't receive that upcoming dividend; only those who owned the stock before this date are entitled to it. It matters to investors because it determines who is eligible to receive the dividend and can influence the stock’s price around that time.

View in glossary

due bills financial

"its shares of common stock will trade with “due bills”"

Due bills are short-term promises to pay for goods or services received earlier but not yet paid for. They act like an IOU, indicating that the buyer owes money to the seller. For investors, due bills matter because they can affect the timing of payments and the true value of a transaction, impacting financial clarity and decision-making.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK, Oct. 09, 2026 (GLOBE NEWSWIRE) -- Apollo Commercial Real Estate Finance, Inc. (the “Company”) (NYSE: ARI) today announced that the Board of Directors declared an initial cash liquidating distribution of $4.10 per share of common stock, which is payable on October 29, 2026 (the “Payment Date”), to common stockholders of record on October 20, 2026 (the “Initial Liquidating Distribution”).

In addition, the Company announced that, in connection with the Initial Liquidating Distribution, the New York Stock Exchange (“NYSE”) has determined that the ex-dividend date for the Initial Liquidating Distribution will be October 30, 2026 (the “Ex-Dividend Date”), the first business day after the Payment Date.

The NYSE has advised the Company that, because the payment of the Initial Liquidating Distribution represents more than 25% of the price of the Company’s shares of common stock, its shares of common stock will trade with “due bills” representing an assignment of the right to receive the Initial Liquidating Distribution from the record date of October 20, 2026, through the closing of trading on NYSE on October 29, 2026, which is the Payment Date and the last day of trading before the Ex-Dividend Date (this period representing the “Dividend Right Period”).

Stockholders who sell their shares of common stock during the Dividend Right Period will be selling their right to the Initial Liquidating Distribution, and such stockholders will not be entitled to receive the Initial Liquidating Distribution. Accordingly, if an investor wishes to receive the Initial Liquidating Distribution, the investor will need to hold its shares of common stock through and including the Payment Date. Due bills obligate a seller of shares of common stock to deliver the Initial Liquidating Distribution payable on such shares of common stock to the buyer (the “Dividend Right”). The record date of October 20, 2026, will be used as the date for establishing the due bill tracking of the Dividend Right to the holder of shares of common stock.

Due bill obligations are customarily settled between the brokers representing the buyers and the sellers of shares of common stock. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company’s shares of common stock should consult their brokers before trading to be sure they understand the effect of NYSE’s due bill procedures.

About Apollo Commercial Real Estate Finance, Inc.
On September 29, 2026, the Company’s stockholders approved the liquidation and dissolution of the Company in accordance with the plan of complete liquidation and dissolution. Prior to stockholder approval of the plan of complete liquidation and dissolution, the Company operated as a real estate investment trust that primarily originated, acquired, invested in and managed performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The Company plans to sell all assets in an orderly fashion and return net proceeds from asset sales and cash on hand to stockholders, subject to payment of the Company’s liabilities and obligations and the creation of associated reserves. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, Inc., a high-growth, global alternative asset manager with approximately $1.05 trillion of assets under management as of June 30, 2026.

Additional information can be found on the Company's website at www.apollocref.com.

Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company's control. These forward-looking statements include information about possible or assumed future results of the Company's business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words believe, expect, anticipate, estimate, plan, continue, intend, should, may or similar expressions, are intended to identify forward-looking statements. These statements are subject to certain risks, uncertainties and assumptions, including: risks associated with the actual amount or timing of the Company’s sales of assets and liquidating distributions; unexpected costs or unexpected liabilities that may arise from the transactions contemplated by the plan of complete liquidation and dissolution; and the Company’s ability to realize the results of its plan of complete liquidation and dissolution. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company's beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:	Hilary Ginsberg
	Investor Relations
	(212) 822-0767

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is Apollo Commercial Real Estate Finance's initial liquidating distribution and when is it payable?

The initial cash liquidating distribution is $4.10 per common share, payable on October 29, 2026. The record date is October 20, 2026, and the ex-dividend date is October 30, 2026.

Can ARI shareholders sell after the record date and still receive the liquidating distribution?

Shareholders who sell from October 20 through the close of NYSE trading on October 29, 2026 sell their right to the distribution and are not entitled to receive it. Shares trade with due bills, which assign that right to the buyer. Investors wishing to receive the distribution must hold through the payment date and should consult their brokers before trading.

Who handles due bills for Apollo Commercial Real Estate Finance's liquidating distribution?

Due bill obligations are customarily settled between the brokers representing buyers and sellers. A due bill obligates the seller to deliver the distribution payable on the shares to the buyer. Apollo Commercial Real Estate Finance has no obligation for the amount or processing of the due bill.