CIM Commercial Trust (CMCT) Declares $0.73 Special Dividend, 3.7% Yield; Announces 14.1M Share Private Repurchase at $22/Sh

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Go back to CIM Commercial Trust (CMCT) Declares $0.73 Special Dividend, 3.7% Yield; Announces 14.1M Share Private Repurchase at $22/Sh

CIM Commercial Trust Announces Private Repurchase of 14,090,909 Shares and Declares Special Dividend on Common Stock

December 18, 2017 8:15 PM EST

DALLAS--(BUSINESS WIRE)-- CIM Commercial Trust Corporation (NASDAQ: CMCT), a real estate investment trust (REIT) that principally invests in, owns, and operates Class A and creative office investments in vibrant and improving urban communities throughout the U.S., today announced that it has repurchased, in a privately negotiated transaction, 14,090,909 shares of its common stock from a fund (the "Fund") managed by an affiliate of CIM Group, the manager of CMCT. The aggregate purchase price was $310,000,000 or $22.00 per share.

In order for all common shareholders to participate in the economic benefit of the... More