Saul Centers Declares Quarterly Dividends

Rhea-AI Summary

Saul Centers (NYSE: BFS) has announced its quarterly dividend declarations. The company will maintain its common stock dividend at $0.59 per share, payable on April 30, 2025, to shareholders of record as of April 15, 2025. Additionally, the company declared dividends for its preferred stocks: $0.3828125 per share for Series D and $0.3750000 per share for Series E, both payable on April 15, 2025.

Saul Centers operates as a self-managed equity REIT based in Bethesda, Maryland. The company's portfolio consists of 62 properties, including 58 community and neighborhood shopping centers and mixed-use properties totaling approximately 10.2 million square feet of leasable area, plus four land and development properties. Notably, over 85% of the company's property operating income is generated from properties in the metropolitan Washington, DC/Baltimore area.

Positive

• Consistent dividend maintenance shows financial stability
• Large portfolio of 10.2M sq ft of leasable area
• Strong geographic concentration in DC/Baltimore market (85% of income)
• Diversified property portfolio across 62 locations

Negative

• No dividend growth compared to previous quarter and year
• High geographic concentration risk in single metro area

BETHESDA, Md., March 6, 2025 /PRNewswire/ -- Saul Centers, Inc. (NYSE: BFS) has declared a quarterly dividend of $0.59 per share on its common stock, to be paid on April 30, 2025, to holders of record on April 15, 2025. The common dividend is unchanged from the amount paid in the previous quarter and the amount paid in the prior year's comparable quarter.

The Company also declared quarterly dividends on (a) its 6.125% Series D Cumulative Redeemable Preferred Stock, in the amount of $0.3828125 per depositary share and (b) its 6.000% Series E Cumulative Redeemable Preferred Stock, in the amount of $0.3750000 per depositary share. The preferred dividends will be paid on April 15, 2025, to holders of record on April 1, 2025.

Saul Centers is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a real estate portfolio comprised of 62 properties, which includes (a) 58 community and neighborhood shopping centers and mixed-use properties with approximately 10.2 million square feet of leasable area and (b) four land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

More information about Saul Centers is available on the Company's website at www.saulcenters.com.

Safe Harbor Statement

Certain matters discussed within this press release may be deemed to be forward-looking statements within the meaning of the federal securities laws. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in the forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. These factors include, but are not limited to, the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2024, and include the following: (i) general adverse economic and local real estate conditions, (ii) the inability of major tenants to continue paying their rent obligations due to bankruptcy, insolvency or a general downturn in their business, (iii) financing risks, such as the inability to obtain equity, debt or other sources of financing or refinancing on favorable terms to the Company, (iv) the Company's ability to raise capital by selling its assets, (v) changes in governmental laws and regulations and management's ability to estimate the impact of such changes, (vi) the level and volatility of interest rates and management's ability to estimate the impact thereof, (vii) the availability of suitable acquisition, disposition, development and redevelopment opportunities, and risks related to acquisitions not performing in accordance with our expectations, (viii) increases in operating costs, (ix) changes in the dividend policy for the Company's common and preferred stock and the Company's ability to pay dividends at current levels, (x) the reduction in the Company's income in the event of multiple lease terminations by tenants or a failure by multiple tenants to occupy their premises in a shopping center, (xi) impairment charges, (xii) unanticipated changes in the Company's intention or ability to prepay certain debt prior to maturity and (xiii) an outbreak or pandemic of any highly infectious or contagious diseases or other public emergencies, and the measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it, which may precipitate or exacerbate one or more of the above-mentioned and/or other risks, and significantly disrupt or prevent us from operating our business in the ordinary course for an extended period. Given these uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements that we make, including those in this press release. Except as may be required by law, we make no promise to update any of the forward-looking statements as a result of new information, future events or otherwise. You should carefully review the risks and risk factors included in our Annual Report on Form 10-K for the year ended December 31, 2024.

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SOURCE Saul Centers, Inc.

FAQ

What is the Q2 2025 dividend amount for Saul Centers (BFS) common stock?

Saul Centers will pay $0.59 per share for common stock, maintaining the same rate as previous quarters.

When is the ex-dividend date for Saul Centers' (BFS) Q2 2025 dividend payment?

Shareholders must be on record by April 15, 2025, with payment scheduled for April 30, 2025.

What are the preferred stock dividend rates for Saul Centers (BFS) in Q2 2025?

Series D preferred stock will pay $0.3828125 per share and Series E will pay $0.3750000 per share.

How many properties does Saul Centers (BFS) currently operate?

Saul Centers operates 62 properties, including 58 shopping centers and mixed-use properties, plus 4 land and development properties.

What percentage of Saul Centers' (BFS) property income comes from the DC/Baltimore area?

Over 85% of Saul Centers' property operating income is generated from the Washington, DC/Baltimore metropolitan area.