Armada Hoffler Properties Announces Second Consecutive Quarterly Increase in the Cash Dividend on Common Shares
Company Also Announces Quarterly Cash Dividend on Preferred Stock
VIRGINIA BEACH, Va., May 03, 2021 (GLOBE NEWSWIRE) -- Armada Hoffler Properties, Inc. (NYSE: AHH) today announced that its Board of Directors declared a cash dividend of $0.16 per common share for the second quarter of 2021. This represents the second consecutive quarterly increase, a 6.7% increase over the prior quarter’s dividend, and a 45.5% cumulative increase year-to-date. The second quarter cash dividend will be payable on July 8, 2021 to stockholders of record on June 30, 2021.
The Board of Directors also declared a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock payable on July 15, 2021 to stockholders of record on July 1, 2021.
“Although the first quarter was somewhat uneventful in terms of notable developments that would change our near term outlook, substantial progress in leasing together with new growth opportunities provided a basis for the Board’s decision to continue ramping the dividend,” said Louis Haddad, President & CEO. “The management team appreciates their confidence, and we look forward to reporting the quarter’s results tomorrow.”
At 8:30 a.m. Eastern on Tuesday, May 4, 2021, senior management will host a conference call and webcast to discuss first quarter earnings and other information. To listen to the call, dial 877-407-3982 (domestic) or 201-493-6780 (international) approximately 10 minutes prior to the start time of the call. The conference call will also be available through the investors page of the Company’s website, ArmadaHoffler.com.
About Armada Hoffler Properties, Inc.
Armada Hoffler Properties, Inc. (NYSE: AHH) is a vertically-integrated, self-managed real estate investment trust ("REIT") with over four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Phone: (757) 366-6684