Retail Properties of America (RPAI) Declares $0.05 Quarterly Dividend; 3% Yield

Retail Properties of America (NYSE: RPAI) declared a quarterly dividend of $0.05 per share, or $0.2 annualized.

The dividend will be payable on October 9, 2020, to stockholders of record on September 25, 2020, with an ex-dividend date of September 24, 2020.

The annual yield on the dividend is 3 percent.

"I am pleased to report that our board has resumed dividend payments for 2020," stated Steve Grimes, chief executive officer. "This reinstated dividend level takes into consideration dividends already paid year to date. The Board will continue to monitor our financial performance and declare additional dividend payments to at least cover our minimum taxable distribution requirements. This move further signals our desire to preserve our balance sheet strength and financial flexibility and the stabilization in our underlying business, including our improving rent collection trends, the ongoing reopening of our tenant base and our recent successful efforts to further reinforce our sound capital structure position. Our July rent collection level has improved from the previously reported 71.4% to 76%, and August rent collection stands at 77%, as our open square footage percentage has continued to migrate higher and now stands at 93%. We look forward to driving incremental operational progress and delivering on our goal to grow this initial quarterly dividend amount as conditions further normalize in the coming quarters."

For a dividend history and other dividend-related data on Retail Properties of America (RPAI) click here.

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