Chicago Atlantic Real Estate Finance Declares Common Stock Dividend of $0.47 for the Fourth Quarter of 2022
Declares Special Dividend of $0.29 per common share for 2022 Tax Year
CHICAGO, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) ("Chicago Atlantic" or the “Company”), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the fourth quarter of 2022. The dividend, which equates to an annualized rate of $1.88 per common share, is payable on January 13, 2023, to shareholders of record as of the close of business on December 30, 2022.
The board of directors also declared a special cash dividend of $0.29 per share, which will be included in fiscal year 2022 taxable income for federal income tax purposes. The special dividend is payable on January 13, 2023, to shareholders of record as of the close of business on December 30, 2022.
John Mazarakis, Executive Chairman of Chicago Atlantic, noted, “We are pleased to provide a fourth quarter regular dividend in line with our previous expectations. Throughout the second half of this year, we have been conservative in our capital deployment and in our dividend payout ratio to account for what we believe could be a more challenging economic environment in 2023. The combined $1.81 in regular quarterly dividends declared during 2022 and the additional special dividend of $0.29 reflect our success in redeploying capital from refinancings and early payoffs into higher yielding loans on an accretive basis as well as the depth and quality of our loan pipeline.”
About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a market-leading mortgage REIT utilizing significant real estate, credit and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect our current views and projections with respect to, among other things, future events and financial performance. Words such as “believes,” “expects,” “will,” “intends,” “plans,” “guidance,” “estimates,” “projects,” “anticipates,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including statements about our future growth and strategies for such growth, are subject to the inherent uncertainties in predicting future results and conditions and are not guarantees of future performance, conditions or results. More information on these risks and other potential factors that could affect our business and financial results is included in our filings with the SEC. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect us. We do not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.