The Necessity Retail REIT Announces Preferred Stock Dividends

Rhea-AI Summary

The Necessity Retail REIT (Nasdaq: RTL, RTLPO, RTLPP) announced its intent to continue quarterly dividends on its Series A and Series C Preferred Stocks. The Series A Preferred will yield $1.875 annually, with a quarterly payment of $0.46875, payable on April 18, 2022. Similarly, the Series C Preferred will yield $1.84375 annually, with a quarterly payment of $0.4609375, also payable on April 18, 2022. Both dividends will be paid to shareholders on record as of April 8, 2022.

Positive

• Quarterly dividends confirmed for Series A and Series C Preferred Stocks.
• Series A Preferred dividend of $0.46875 enhances shareholder income.
• Series C Preferred dividend of $0.4609375 boosts investor confidence.

Negative

• None.

News Market Reaction – RTL

-0.13%

1 alert

-0.13% News Effect

On the day this news was published, RTL declined 0.13%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, March 24, 2022 /PRNewswire/ -- The Necessity Retail REIT, Inc. (Nasdaq: RTL/ RTLPP / RTLPO) ("RTL") announced today that it intends to continue to pay dividends on a quarterly basis on its 7.50% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Stock") at an annualized rate of $1.875 per share or $0.46875 per share on a quarterly basis.  Dividends on the Series A Preferred Stock are payable in arrears to Series A Preferred Stock holders of record at the close of business on the applicable record date and payable on the 15th day of the first month of each fiscal quarter (or, if not a business day, the next succeeding business day).

Accordingly, RTL declared a dividend of $0.46875 per share of Series A Preferred Stock payable on April 18, 2022 to Series A Preferred Stock holders of record at the close of business on April 8, 2022.

In addition, RTL announced today that it intends to continue to pay dividends on a quarterly basis on its 7.375% Series C Cumulative Redeemable Perpetual Preferred Stock (the "Series C Preferred Stock") at an annualized rate of $1.84375 per share or $0.4609375 per share on a quarterly basis.  Dividends on the Series C Preferred Stock are payable in arrears to Series C Preferred Stock holders of record at the close of business on the applicable record date and payable on the 15th day of the first month of each fiscal quarter (or, if not a business day, the next succeeding business day).

Accordingly, RTL declared a dividend of $0.4609375 per share of Series C Preferred Stock payable on April 18, 2022 to Series C Preferred Stock holders of record at the close of business on April 8, 2022.

About The Necessity Retail REIT Where America Shops

The Necessity Retail REIT, Inc. (Nasdaq: RTL) is a publicly traded real estate investment trust listed on the Nasdaq focused on acquiring and managing a diversified portfolio of primarily service-oriented and traditional retail and distribution related commercial real estate properties in the U.S. Additional information about RTL can be found on its website at www.necessityretailreit.com.

Important Notice

The statements in this press release that are not historical facts may be forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause the outcome to be materially different. In addition, words such as "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of RTL's control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat COVID-19, on RTL, RTL's tenants and the global economy and financial markets and that the information about rent collections may not be indicative of any future period, as well as those set forth in the Risk Factors section of RTL's most recent Annual Report on Form 10-K for the year ended December 31, 2021 filed on February 24, 2022, and all other filings with the SEC after that date, as such risks, uncertainties and other important factors may be updated from time to time in RTL's subsequent reports. Further, forward-looking statements speak only as of the date they are made, and RTL undertakes no obligation to update or revise any forward-looking statement to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless required by law.

Contacts: 
Investor Relations       
ir@rtlreit.com 
(866) 902-0063

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-necessity-retail-reit-announces-preferred-stock-dividends-301509223.html

SOURCE The Necessity Retail REIT, Inc.

FAQ

What is the dividend amount for RTL's Series A Preferred Stock?

The dividend amount for RTL's Series A Preferred Stock is $0.46875 per share, payable on April 18, 2022.

When will RTL pay dividends for the Series C Preferred Stock?

RTL will pay dividends for the Series C Preferred Stock on April 18, 2022.

What is the annual dividend rate for RTL's Series C Preferred Stock?

The annual dividend rate for RTL's Series C Preferred Stock is $1.84375 per share.

What is the record date for the upcoming dividends for RTL?

The record date for the upcoming dividends is April 8, 2022.

How often does RTL pay dividends on its preferred stocks?

RTL pays dividends on its preferred stocks on a quarterly basis.