BRT Apartments Corp. Announces Quarterly Dividend

Rhea-AI Summary

BRT Apartments Corp. (NYSE:BRT) has declared a quarterly dividend of $0.25 per share, payable on July 9, 2024, to shareholders of record as of June 25, 2024. The company estimates that a significant portion of its 2024 dividends will be considered a return of capital for federal income tax purposes, provided it does not sell any multi-family properties this year.

Positive

• Quarterly dividend of $0.25 per share announced.
• Dividend payable on July 9, 2024.
• Shareholders of record on June 25, 2024, will receive the dividend.
• Potential tax benefit for shareholders as dividends may be considered a return of capital.

Negative

• The dividend being classified as a return of capital indicates potential lower earnings.
• No mention of multi-family property sales, indicating possible stagnation in property transactions.

GREAT NECK, N.Y., June 11, 2024 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) announced that its Board of Directors declared a quarterly dividend of $0.25 per share. The dividend is payable July 9, 2024, to stockholders of record at the close of business on June 25, 2024. BRT estimates that if it does not sell any multi-family properties this year, that a significant portion of its dividends to be paid in 2024 will be treated for federal income tax purposes as a return of capital.

About BRT Apartments Corp:

BRT is a real estate investment trust that owns, operates and, to a lesser extent, develops multi-family properties. Additional information on BRT, its operations and portfolio, is available at BRT’s website at: http://brtapartments.com. Interested parties are encouraged to review the reports BRT files with the Securities and Exchange Commission for additional information.

Contact: Investor Relations

BRT APARTMENTS CORP.
60 Cutter Mill Road
Suite 303
Great Neck, New York 11021
Telephone (516) 466-3100
Telecopier (516) 466-3132
http://brtapartments.com

FAQ

When will BRT Apartments Corp. pay the announced dividend?

The quarterly dividend will be paid on July 9, 2024.

What is the dividend per share announced by BRT Apartments Corp.?

The announced quarterly dividend is $0.25 per share.

Who is eligible to receive the BRT Apartments Corp. dividend?

Shareholders of record as of the close of business on June 25, 2024, are eligible.

How will BRT Apartments Corp. dividends be treated for federal income tax purposes in 2024?

A significant portion of the dividends is expected to be treated as a return of capital, provided no multi-family properties are sold.