CMCT Declares Common Stock Dividend
December 20 2023 - 6:00PM
Business Wire
CMCT (NASDAQ: CMCT and TASE: CMCT) announced today that its
Board of Directors has declared a quarterly cash dividend of $0.085
per share of common stock. The dividend will be paid on January 16,
2024 to stockholders of record at the close of business on January
2, 2024.
ABOUT CMCT
Creative Media & Community Trust Corporation (“CMCT”) is a
real estate investment trust that owns, operates and develops
premier multifamily and creative office assets in vibrant
communities throughout the United States. CMCT is a leader in
creative office, acquiring and developing properties catering to
rapidly growing industries such as technology, media and
entertainment. CMCT applies the expertise of CIM to the
acquisition, development, and operation of top-tier multifamily
properties situated in dynamic markets with similar business and
employment characteristics to its creative office investments. CMCT
also owns one hotel in Northern California and a lending platform
that originates loans under the Small Business Administration
(“SBA”)’s 7(a) loan program. CMCT 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
onsite property management capabilities
(www.creativemediacommunity.com).
FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 (the “Exchange
Act”), which are intended to be covered by the safe harbors created
thereby. Such forward-looking statements can be identified by the
use of forward-looking terminology such as “may,” “will,”
“project,” “target,” “expect,” “intend,” “might,” “believe,”
“anticipate,” “estimate,” “could,” “would,” “continue,” “pursue,”
“potential,” “forecast,” “seek,” “plan,” or “should,” or “goal” or
the negative thereof or other variations or similar words or
phrases. Such forward-looking statements include, among others,
statements about CMCT’s plans and objectives relating to future
growth and outlook. Such forward-looking statements are based on
particular assumptions that management of CMCT 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. Forward-looking statements are necessarily
estimates reflecting the judgment of CMCT’s management 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 risks and uncertainties include those associated
with (i) the timing, form, and operational effects of CMCT’s
development activities, (ii) the ability of CMCT to raise in place
rents to existing market rents and to maintain or increase
occupancy levels, (iii) fluctuations in market rents, (iv) the
effects of inflation and higher interest rates on the operations
and profitability of CMCT and (v) general economic, market and
other conditions. Additional important factors that could cause
CMCT’s actual results to differ materially from CMCT’s expectations
are discussed under the section “Risk Factors” in CMCT’s Annual
Report on Form 10-K for the year ended December 31, 2022. The
forward-looking statements included herein are based on current
expectations and there can be no assurance that these expectations
will be attained. Assumptions relating to the foregoing involve
judgments with respect to, among other things, future economic,
competitive and market conditions and future business decisions,
all of which are difficult or impossible to predict accurately and
many of which are beyond CMCT’s control. Although we believe that
the assumptions underlying the forward-looking statements are
reasonable, any of the assumptions could be inaccurate and,
therefore, there can be no assurance that the forward-looking
statements included herein will prove to be accurate. In light of
the significant uncertainties inherent in the forward-looking
statements included herein, the inclusion of such information
should not be regarded as a representation by CMCT or any other
person that CMCT’s objectives and plans will be achieved. Readers
are cautioned not to place undue reliance on forward-looking
statements. Forward-looking statements speak only as of the date
they are made. CMCT does not undertake to update them to reflect
changes that occur after the date they are made.
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version on businesswire.com: https://www.businesswire.com/news/home/20231220921305/en/
Media Relations: Karen Diehl Diehl Communications
310-741-9097 karen@diehlcommunications.com or Investor
Relations: Steve Altebrando, 646-652-8473
shareholders@creativemediacommunity.com
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