First Real Estate Investment Trust of New Jersey : FREIT Announces Quarterly and Special Dividend - Form 8-K
July 13, 2023 at 03:50 pm EDT
Share
FREIT Announces Quarterly and Special Dividend
HACKENSACK, NJ, July 13, 2023 - On July 12, 2023, the Board of Directors of First Real Estate Investment Trust of New Jersey, Inc. ("FREIT" or the "Trust") declared a third quarter ordinary dividend of $0.05 per share. Additionally, the Board of Directors declared a special dividend of $0.25 per share to distribute funds released in Fiscal 2023 from a post-closing rent escrow established in connection with the sale of the Trust's Maryland properties. The total dividend of $0.30 per share on the Common Stock of the Trust will be paid on September 15, 2023 to holders of record of said shares at the close of business on September 1, 2023. The Board of Directors will continue to evaluate the dividend on a quarterly basis and there can be no assurance that dividends will be declared for any future period. In addition, the amount of the dividends declared on July 12, 2023 is not necessarily indicative of the amount of any dividends that may be declared in the future.
The statements in this press release, which relate to future earnings or performance, are forward-looking. Actual results may differ materially and be adversely affected by such factors as market and economic conditions, longer than anticipated lease-up periods or the inability of certain tenants to pay rents. Additional information about these factors is contained in FREIT's filings with the SEC including FREIT's most recent filed reports on Form 10-K and Form 10-Q.
First Real Estate Investment Trust of New Jersey, Inc. is a publicly traded (over-the-counter - symbol FREVS) REIT organized in 1961. Its portfolio of residential and commercial properties are located in New Jersey and New York, with the largest concentration in northern New Jersey.
For additional information, contact Stockholder Relations at (201) 488-6400
FREIT - First Real Estate Investment Trust of New Jersey published this content on 13 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2023 19:49:07 UTC.
First Real Estate Investment Trust of New Jersey, Inc. is an equity real estate investment trust (REIT). The Company is engaged in acquiring, developing, constructing and holding real estate properties for long-term investment and not for resale. The Company operates through two segments: commercial properties and residential properties. Its funds acquisition opportunities and the development of its real estate properties largely through debt financing, including mortgage loans collateralized by certain of its properties. Its properties are primarily located in northern New Jersey and New York. Its subsidiaries include Westwood Hills, LLC, Damascus Centre, LLC, Wayne PSC, LLC, Grande Rotunda, LLC, WestFREIT, Corp., Station Place on Monmouth, LLC., FREIT Regency, LLC and Berdan Court, LLC.
FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC. 
