NEW
YORK, May 13, 2022 /PRNewswire/ -- Bluerock
Residential Growth REIT, Inc. (NYSE American: BRG) (the "Company")
today announced that its Board of Directors has authorized and the
Company has declared a monthly cash dividend on the Company's
Series B Redeemable Preferred Stock (the "Series B Preferred
Stock") for the month of May 2022,
equal to a quarterly rate of $15.00
per share (the "Series B Preferred Dividends"). In addition, the
Board of Directors has authorized and the Company has declared a
monthly cash dividend on the Company's Series T Redeemable
Preferred Stock (the "Series T Preferred Stock") for the month of
May 2022, equal to a quarterly rate
of $0.384375 per share (the "Series T
Preferred Dividends").
The Series B Preferred Dividends will be payable in cash as
follows: $5.00 per share to be paid
on Friday, June 3, 2022 to
Series B Preferred stockholders of record as of Wednesday, May 25, 2022.
The Series T Preferred Dividends will be payable in cash as
follows: $0.128125 per share to be
paid on Friday, June 3, 2022 to Series T Preferred
stockholders of record as of Wednesday, May 25, 2022. Shares
of Series T Preferred Stock held for only a portion of the
applicable monthly dividend period will receive a prorated Series T
Preferred Dividend based on the actual number of days in the
applicable dividend period during which each such share of Series T
Preferred Stock was outstanding, as permitted under the Articles
Supplementary to the Company's charter dated November 13, 2019.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE American:
BRG) is a real estate investment trust that focuses on developing
and acquiring a diversified portfolio of institutional-quality
highly amenitized live/work/play apartment communities in
demographically attractive knowledge economy growth markets to
appeal to the renter by choice. The Company's objective is to
generate value through off-market/relationship-based transactions
and, at the asset level, through value-add improvements to
properties and to operations. BRG has elected to be taxed as a real
estate investment trust
(REIT) for U.S. federal income tax purposes.
For more information, please visit our website
at: www.bluerockresidential.com.
Forward Looking Statements
This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and other federal
securities laws. These forward-looking statements are based upon
the Company's present expectations, but these statements are not
guaranteed to occur. Furthermore, the Company disclaims any
obligation to publicly update or revise any forward-looking
statement to reflect changes in underlying assumptions or factors,
of new information, data or methods, future events or other
changes. Investors should not place undue reliance upon
forward-looking statements. Although the Company believes
that the expectations reflected in these forward-looking statements
are based on reasonable assumptions, the Company's actual results
and performance could differ materially from those set forth in
these forward-looking statements due to numerous factors.
Currently, one of the most significant factors is the potential
adverse effect of the COVID-19 pandemic on the financial condition,
results of operations, cash flows and performance of the Company
and its tenants, partners and employees, as well as the real estate
market and the global economy and financial markets. The extent to
which COVID-19 impacts the Company and its tenants, partners and
employees will depend on future developments, which are highly
uncertain and cannot be predicted with confidence, including the
scope, severity and duration of the pandemic, the actions taken to
contain the pandemic or mitigate its impact (including governmental
actions that may vary by jurisdiction, such as mandated business
closing; stay-at-home orders; limits on group activity; and actions
to protect residential tenants from eviction), and the direct and
indirect economic effects of the pandemic and containment measures,
including national and local employment rates and the corresponding
impact on the Company's tenants' ability to pay their rent on time
or at all, among others. For further discussion of the
factors that could affect outcomes, please refer to the risk
factors set forth in Item 1A of the Company's Annual Report on Form
10-K filed by the Company with the U.S. Securities and
Exchange Commission ("SEC") on March 11,
2022, and subsequent filings by the Company with
the SEC. We claim the safe harbor protection for forward
looking statements contained in the Private Securities Litigation
Reform Act of 1995.
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SOURCE Bluerock Residential Growth REIT, Inc.