DALLAS–(BUSINESS WIRE)–CIM Commercial Trust Corporation (NASDAQ: CMCT and TASE: CMCT-L), a real
estate investment trust (REIT) that primarily acquires, owns, and
operates Class A and creative office assets in vibrant and improving
metropolitan communities throughout the United States, announced today
that its Board of Directors has declared a quarterly cash dividend of
$0.125 per common share. The dividend will be paid on June 27, 2019 to
shareholders of record at the close of business on June 14, 2019.
In addition, the Board of Directors has declared a quarterly cash
dividend of $0.34375 per share of CMCT’s Series A Preferred Stock. For
shares issued during the second quarter of 2019, the dividend will be
prorated from the time of issuance. The dividend will be payable on July
15, 2019 to holders of record at the close of business on July 5, 2019.
ABOUT CIM COMMERCIAL TRUST CORPORATION
CIM Commercial Trust is a real estate investment trust that primarily
acquires, owns, and operates Class A and creative office assets in
vibrant and improving metropolitan communities throughout the United
States. Its properties are primarily located in Los Angeles, the San
Francisco Bay Area and Washington, D.C. CIM Commercial Trust is operated
by affiliates of CIM Group, L.P., a vertically-integrated owner and
operator of real assets with multi-disciplinary expertise and in-house
research, acquisition, credit analysis, development, finance, leasing,
and property management capabilities. (www.cimcommercial.com).
FORWARD-LOOKING STATEMENTS
The information set forth herein contains “forward-looking statements.”
You can identify these statements by the fact that they do not relate
strictly to historical or current facts or discuss the business and
affairs of CIM Commercial on a prospective basis. Further, statements
that include words such as “may,” “will,” “project,” “might,” “expect,”
“target,” “believe,” “anticipate,” “intend,” “could,” “would,”
“estimate,” “continue,” “pursue,” “potential”, “forecast”, “seek”,
“plan”, or “should” or the negative or other words or expressions of
similar meaning, may identify forward-looking statements.
CIM Commercial bases these forward-looking statements on particular
assumptions that it has made in light of its experience, as well as its
perception of expected future developments and other factors that it
believes are appropriate under the circumstances. These forward-looking
statements are necessarily estimates reflecting the judgment of CIM
Commercial and involve a number of risks and uncertainties that could
cause actual results to differ materially from those suggested by the
forward-looking statements. These forward-looking statements are subject
to risks, uncertainties and other factors, including those associated
with (i) CIM Commercial’s ability to consummate the planned asset sales,
(ii) the extent to which capital is returned to stockholders and the
timing thereof and (iii) general economic, market and other conditions.
For a further list and description of the risks and uncertainties
inherent in the forward looking statements, see CIM Commercial’s filings
with the Securities and Exchange Commission, including CIM Commercial’s
Annual Report on Form 10-K for the fiscal year ended December 31, 2018,
the Registration Statement on Form S-11 (No. 333-210880) relating to the
Series A Preferred Stock and the Registration Statement on Form S-4 (No.
333-227707) relating to the potential exchange offer for shares of our
Series L Preferred Stock.
As you read and consider the information herein, you are cautioned to
not place undue reliance on these forward-looking statements. These
statements are not guarantees of performance or results and speak only
as of the date hereof. These forward-looking statements involve risks,
uncertainties and assumptions. In light of these risks and
uncertainties, there can be no assurance that the results and events
contemplated by the forward-looking statements contained herein will in
fact transpire. New factors emerge from time to time, and it is not
possible for CIM Commercial to predict all of them. Nor can CIM
Commercial assess the impact of each such factor or the extent to which
any factor, or combination of factors may cause results to differ
materially from those contained in any forward looking statement. CIM
Commercial undertakes no obligation to publicly update or release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law.
Contacts
Media Relations:
Bill Mendel, 212-397-1030
[email protected]
or
Investor
Relations:
Steve Altebrando, 646-652-8473
