City Office REIT Announces Dividends for Third Quarter 2024

Rhea-AI Summary

City Office REIT (NYSE: CIO) has announced its dividend distributions for the third quarter of 2024. The company's Board of Directors has authorized a quarterly dividend of $0.10 per share for common stock and common unit of partnership interest. Additionally, a regular quarterly dividend of $0.4140625 per share has been declared for the company's 6.625% Series A Cumulative Redeemable Preferred Stock. Both dividends are scheduled to be paid on October 24, 2024, with a record date of October 10, 2024 for all stockholders, preferred stockholders, and operating partnership unitholders.

Positive

• Consistent dividend payments maintained for both common and preferred stockholders
• Timely announcement of dividend schedule, providing clarity for investors

Negative

• None.

VANCOUVER, Sept. 13, 2024 /PRNewswire/ -- City Office REIT, Inc. (NYSE: CIO) ("City Office," "CIO" or the "Company") announced today that its Board of Directors has authorized a quarterly dividend amount of $0.10 per share of common stock and common unit of partnership interest for the third quarter of 2024.

Additionally, the Board of Directors authorized a regular quarterly dividend of $0.4140625 per share of the Company's 6.625% Series A Cumulative Redeemable Preferred Stock.

The dividends will be payable on October 24, 2024 to all stockholders, preferred stockholders and operating partnership unitholders, as applicable, of record as of the close of business on October 10, 2024.

About City Office REIT, Inc.

City Office REIT is an internally-managed real estate company focused on acquiring, owning and operating office properties located predominantly in Sun Belt markets. City Office currently owns or has a controlling interest in 5.6 million square feet of office properties. The Company has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes.

Forward-looking Statements

This press release contains both historical and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management's current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as "approximately," "anticipate," "assume," "believe," "budget," "contemplate," "continue," "could," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "seek," "should," "target," "will" and similar expressions, and variations or negatives of these words. They are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. Factors that could cause actual results to differ materially include, among other things, changes to CIO's expected liquidity position and the risk factors set forth in CIO's Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent filings with the Securities and Exchange Commission. The statements made herein speak only as of the date of this press release, and, except as required by law, CIO does not undertake any obligation to publicly update or revise any forward-looking statements.

Contact

City Office REIT, Inc.
Anthony Maretic, CFO
+1-604-806-3366
investorrelations@cityofficereit.com

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SOURCE City Office REIT, Inc.

FAQ

What is the dividend amount for City Office REIT's common stock in Q3 2024?

City Office REIT (CIO) has declared a quarterly dividend of $0.10 per share for its common stock and common unit of partnership interest for the third quarter of 2024.

When will City Office REIT (CIO) pay its Q3 2024 dividends?

City Office REIT will pay its third quarter 2024 dividends on October 24, 2024, to stockholders of record as of the close of business on October 10, 2024.

What is the dividend amount for City Office REIT's preferred stock in Q3 2024?

City Office REIT has authorized a regular quarterly dividend of $0.4140625 per share for its 6.625% Series A Cumulative Redeemable Preferred Stock for the third quarter of 2024.

What is the record date for City Office REIT's Q3 2024 dividends?

The record date for City Office REIT's third quarter 2024 dividends is October 10, 2024, for all stockholders, preferred stockholders, and operating partnership unitholders.