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 October 2, 2024, to stockholders of record as of September 24, 2024. The company estimates that if it doesn't sell any multi-family properties this year, substantially all of its 2024 dividends will likely be treated as a return of capital for federal income tax purposes. This announcement demonstrates BRT's commitment to providing regular returns to its shareholders, while also offering potential tax benefits.

Positive

• Consistent quarterly dividend of $0.25 per share maintained
• Potential tax advantage as dividends may be treated as return of capital

Negative

• Dividend payout may impact company's cash reserves
• Lack of property sales could affect future dividend sustainability

GREAT NECK, N.Y., Sept. 10, 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 October 2, 2024, to stockholders of record at the close of business on September 24, 2024. BRT estimates that if it does not sell any multi-family properties this year, that substantially all 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

What is BRT Apartments Corp's (NYSE:BRT) latest quarterly dividend amount?

BRT Apartments Corp (NYSE:BRT) has declared a quarterly dividend of $0.25 per share.

When is the ex-dividend date for BRT Apartments Corp's (NYSE:BRT) latest dividend?

The ex-dividend date is not specified in the press release. However, stockholders of record at the close of business on September 24, 2024, will be eligible for the dividend.

What is the payment date for BRT Apartments Corp's (NYSE:BRT) latest dividend?

The dividend is payable on October 2, 2024.

How might BRT Apartments Corp's (NYSE:BRT) 2024 dividends be treated for tax purposes?

BRT estimates that if it doesn't sell any multi-family properties in 2024, substantially all of its dividends paid in 2024 will likely be treated as a return of capital for federal income tax purposes.