BETHESDA, Md., Dec. 7, 2023
/PRNewswire/ -- Saul Centers, Inc.
(NYSE: BFS) has declared a quarterly dividend of $0.59 per share on its common stock, to be paid
on January 31, 2024, to holders of
record on January 16, 2024. The
common dividend is unchanged from the amount paid in the previous
quarter and the amount paid in the prior year's comparable
quarter.
The Company also declared quarterly dividends on (a) its 6.125%
Series D Cumulative Redeemable Preferred Stock, in the amount of
$0.3828125 per depositary share and
(b) its 6.000% Series E Cumulative Redeemable Preferred Stock, in
the amount of $0.3750000 per
depositary share. The preferred dividends will be paid on
January 16, 2024, to holders of
record on January 2, 2024.
Saul Centers is a self-managed,
self-administered equity REIT headquartered in Bethesda, Maryland. Saul Centers currently operates and manages a
real estate portfolio comprised of 61 properties, which
includes (a) 57 community and neighborhood shopping centers and
mixed-use properties with approximately 9.8 million square feet of
leasable area and (b) four land and development properties. Over
85% of the Saul Centers' property operating income is generated by
properties in the metropolitan Washington, DC/Baltimore area.
More information about Saul
Centers is available on the Company's website at
www.saulcenters.com.
Safe Harbor Statement
Certain matters discussed within this press release may be
deemed to be forward-looking statements within the meaning of the
federal securities laws. For these statements, we claim the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
Although the Company believes the expectations reflected in the
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be attained. These
factors include, but are not limited to, the risk factors described
in (i) our Annual Report on Form 10-K for the year ended
December 31, 2022, and (ii) our
Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, and include the following:
(i) general adverse economic and local real estate conditions, (ii)
the inability of major tenants to continue paying their rent
obligations due to bankruptcy, insolvency or a general downturn in
their business, (iii) financing risks, such as the inability to
obtain equity, debt or other sources of financing or refinancing on
favorable terms to the Company, (iv) the Company's ability to raise
capital by selling its assets, (v) changes in governmental laws and
regulations and management's ability to estimate the impact of such
changes, (vi) the level and volatility of interest rates and
management's ability to estimate the impact thereof, (vii) the
availability of suitable acquisition, disposition, development and
redevelopment opportunities, and risks related to acquisitions not
performing in accordance with our expectations, (viii) increases in
operating costs, (ix) changes in the dividend policy for the
Company's common and preferred stock and the Company's ability to
pay dividends at current levels, (x) the reduction in the Company's
income in the event of multiple lease terminations by tenants or a
failure by multiple tenants to occupy their premises in a shopping
center, (xi) impairment charges, (xii) unanticipated changes in the
Company's intention or ability to prepay certain debt prior to
maturity and (xiii) an epidemic or pandemic (such as the outbreak
and worldwide spread of COVID-19), and the measures that
international, federal, state and local governments, agencies, law
enforcement and/or health authorities implement to address it,
which may (as with COVID-19) precipitate or exacerbate one or more
of the above-mentioned and/or other risks, and significantly
disrupt or prevent us from operating our business in the ordinary
course for an extended period. Given these uncertainties, readers
are cautioned not to place undue reliance on any forward-looking
statements that we make, including those in this press release.
Except as may be required by law, we make no promise to update any
of the forward-looking statements as a result of new information,
future events or otherwise. You should carefully review the risks
and risk factors included in (i) our Annual Report on Form 10-K for
the year ended December 31, 2022, and
(ii) our Quarterly Report on Form 10-Q for the quarter ended
September 30, 2023.
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SOURCE Saul Centers, Inc.
