Armada Hoffler Properties Announces Increase in the Quarterly Cash Dividend on Common Shares for the Third Time This Year
COMPANY ALSO ANNOUNCES QUARTERLY CASH DIVIDEND ON PREFERRED STOCK
VIRGINIA BEACH, Va., Oct. 25, 2021 (GLOBE NEWSWIRE) — Armada Hoffler Properties, Inc. (NYSE: AHH) today announced that its Board of Directors declared a cash dividend of $0.17 per common share for the fourth quarter of 2021. This represents the third quarterly increase this year, a 6.25% increase over the prior quarter’s dividend, and a 54.5% cumulative increase year-to-date. The fourth quarter cash dividend will be payable on January 6, 2022 to stockholders of record on December 29, 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 January 14, 2022 to stockholders of record on January 3, 2022.
“We are pleased to raise the dividend for the third time this year. Portfolio wide, leasing activity has continued to exceed our most ambitious targets. This success, paired with new growth opportunities, provided the basis for the Board’s decision to continue increasing the dividend,” said Louis Haddad, President & CEO. “We look forward to reporting the quarter’s results and our company outlook on November 2nd.”
At 8:30 a.m. Eastern on Tuesday, November 2, 2021, senior management will host a conference call and webcast to discuss fourth 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.
Contact:
Michael P. O’Hara
Armada Hoffler Properties, Inc.
Chief Financial Officer, Treasurer, and Secretary
Email: MOHara@ArmadaHoffler.com
Phone: (757) 366-6684
