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City Office REIT, Inc. reports developments for a real estate investment trust with common stock and 6.625% Series A Cumulative Redeemable Preferred Stock. Recurring updates cover operating and financial results, capital-structure disclosures, shareholder voting matters, governance changes, material agreements, and tax treatment of distributions. Company announcements also address dividend reporting categories for common and preferred holders, including ordinary dividends, capital-gain distributions, return of capital, and Section 199A dividend treatment when disclosed.
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.
City Office REIT (NYSE: CIO) reported its Q2 2024 results, with rental and other revenues of $42.3 million. The company experienced a GAAP net loss of $5.6 million, or ($0.14) per share. Core FFO was $11.5 million, or $0.28 per share, while AFFO was $5.3 million, or $0.13 per share. In-place occupancy stood at 83.0%, or 87.3% including signed leases not yet occupied. CIO executed 269,000 square feet of new and renewal leases, with renewal cash rents increasing by 4.3%. The company completed loan renewals on two properties, declared a $0.10 per share common stock dividend, and a $0.4140625 per share Series A Preferred Stock dividend.
City Office REIT announced it will release its Q2 2024 financial results on August 1, 2024, before the market opens. The company will also host a conference call at 11:00 am ET the same day to discuss the earnings. A supplemental financial package will be available on their official website.
Interested parties can join the webcast through the 'Investor Relations' section on the company's website or participate via a telephone conference call. Replay options will be available on the same day, continuing through December 5, 2024.
City Office REIT (NYSE: CIO) announced a quarterly dividend of $0.10 per share of common stock for Q2 2024, payable on July 24, 2024, to shareholders of record by July 10, 2024.
The Board also authorized a quarterly dividend of $0.4140625 per share of the 6.625% Series A Cumulative Redeemable Preferred Stock.
This announcement is aimed at providing returns to shareholders and indicates the company's ongoing commitment to dividend payments.
City Office REIT, Inc. (NYSE: CIO) reported Q1 2024 results with $44.5 million in revenue, $2.4 million net loss, and $13.5 million in Core FFO. They signed significant leases and updated guidance due to WeWork modifications. They expect a $1.8 million reduction in Core FFO for 2024.
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