SITE Centers Announces Sale of DTP Interests and Special Common Distribution

Shareholders selling during the due bill period transfer their right to the special dividend to the buyer.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

BEACHWOOD, Ohio--(BUSINESS WIRE)-- SITE Centers Corp. (NYSE: SITC) today announced the sale of its interests in the Dividend Trust Portfolio joint venture for net proceeds of approximately $32.4 million.

The Company’s Board of Directors also declared a special cash distribution on its common shares of $3.00 per common share payable on November 5, 2026 to shareholders of record at the close of business on October 27, 2026.

Because the payment of the special dividend represents more than 25% of the price of the Company’s common shares, the New York Stock Exchange has advised the Company that its common shares will trade with “due bills” representing an assignment of the right to receive the special dividend from the record date of October 27, 2026 through the closing of trading on NYSE on November 5, 2026, which is the payment date and the last day of trading before the November 6, 2026 ex-dividend date (this period of time representing the “Dividend Right Period”).

Shareholders who sell their common shares during the Dividend Right Period will be selling their right to the special dividend, and such shareholders will not be entitled to receive the special dividend. Due bills obligate a seller of common shares to deliver the special dividend payable on such common shares to the buyer (the “Dividend Right”). The record date of October 27, 2026 will be used as the date for establishing the due bill tracking of the Dividend Right to the holder of common shares.

Due bill obligations are customarily settled between the brokers representing the buyers and the sellers of shares. The Company has no obligation for either the amount of the due bill or the processing of the due bill. Buyers and sellers of the Company’s common shares should consult their brokers before trading to be sure they understand the effect of NYSE’s due bill procedures.

About SITE Centers Corp.
SITE Centers is a self-administered and self-managed REIT and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company’s e-mail distributions for press releases and other investor news, here.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261013492311/en/

Gerald Morgan, EVP and
Chief Financial Officer
216-755-5500

Source: SITE Centers Corp.

Key Terms

due bills financial

Due bills are short-term promises to pay for goods or services received earlier but not yet paid for. They act like an IOU, indicating that the buyer owes money to the seller. For investors, due bills matter because they can affect the timing of payments and the true value of a transaction, impacting financial clarity and decision-making.

ex-dividend date financial

The ex-dividend date is the date when a stock starts trading without the value of its next dividend payment included. If you buy the stock on or after this date, you won't receive that upcoming dividend; only those who owned the stock before this date are entitled to it. It matters to investors because it determines who is eligible to receive the dividend and can influence the stock’s price around that time.

View in glossary

record date financial

The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.