PHOENIX, Oct. 14, 2021 /PRNewswire/ -- VEREIT, Inc.
(NYSE: VER) ("VEREIT" or the "Company") announced today its Board
of Directors has declared a cash dividend of $0.154 per common share for the month of October,
which represents one-third of its prior quarterly dividend.
This dividend will be payable on November
15, 2021 to shareholders of record on November 2, 2021 (the "Record Date"), only if the
merger with Realty Income Corporation has not closed prior to the
Record Date. VEREIT expects to continue declaring dividends
on a monthly basis until the closing of the merger with Realty
Income Corporation.
About VEREIT
VEREIT is a full-service real estate
operating company which owns and manages one of the largest
portfolios of single-tenant commercial properties in the U.S.
The Company has total real estate investments of $14.5 billion including approximately 3,900
properties and 88.9 million square feet. VEREIT's business model
provides equity capital to creditworthy corporations in return for
long-term leases on their properties. VEREIT is a publicly traded
Maryland corporation listed on the
New York Stock Exchange. VEREIT uses, and intends to continue to
use, its Investor Relations website, which can be found at
www.VEREIT.com, as a means of disclosing material nonpublic
information and for complying with its disclosure obligations under
Regulation FD. Additional information about VEREIT can be
found through social media platforms such as Twitter and
LinkedIn.
Forward-Looking Statements
This communication may
include "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act. All statements other than
statements of historical fact are "forward-looking statements" for
purposes of federal and state securities laws. These
forward-looking statements, which are based on current
expectations, estimates and projections about the industry and
markets in which Realty Income Corporation (" Realty
Income ") and VEREIT, Inc. (" VEREIT ")
operate and beliefs of and assumptions made by Realty
Income management and VEREIT management, involve
uncertainties that could significantly affect the financial or
operating results of Realty Income, VEREIT and the
combined company. Words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates," "will," and
variations of such words and similar expressions are intended to
identify such forward-looking statements. Such forward-looking
statements include, but are not limited to, statements about the
anticipated October dividend payment and the timing thereof,
potential future dividend payments and the proposed merger
involving Realty Income and VEREIT, including the
timing of the closing of the merger. Although we believe the
expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our
expectations will be attained and, therefore, actual outcomes and
results may differ materially from what is expressed or forecasted
in such forward-looking statements. For example, these
forward-looking statements could be affected by factors including,
without limitation, risks associated with the ability to consummate
the proposed merger and the timing of the closing of the proposed
merger; the ability to secure favorable interest rates on any
borrowings incurred in connection with the proposed transactions;
the impact of indebtedness incurred in connection with the proposed
transactions; the ability to successfully integrate our operations
and employees; the ability to realize anticipated benefits and
synergies of the proposed transactions as rapidly or to the extent
anticipated by financial analysts or investors; the potential
liability for a failure to meet regulatory or tax-related
requirements, including the maintenance of REIT status; material
changes in the dividend rates on securities or the ability to pay
dividends on common shares or other securities; potential changes
to tax legislation; changes in demand for developed properties;
adverse changes in the financial condition of joint venture
partner(s) or major tenants; risks associated with the acquisition,
development, expansion, leasing and management of properties; risks
associated with the industry concentration of tenants; the
potential impact of announcement of the proposed transactions or
consummation of the proposed transactions on relationships,
including with clients, employees, customers and competitors; the
unfavorable outcome of any legal proceedings that have been or may
be instituted against Realty Income , VEREIT or
any company spun-off by the combined company; significant costs
related to uninsured losses, condemnation, or environmental issues;
the ability to retain key personnel; the amount of the costs, fees,
expenses and charges related to the proposed transactions and the
actual terms of the financings that may be obtained in connection
with the proposed transactions; changes in local, national and
international financial market, insurance rates and interest rates;
general adverse economic and local real estate conditions; the
inability of major tenants to continue paying their rent
obligations due to bankruptcy, insolvency or a general downturn in
their business; foreign currency exchange rates; increases in
operating costs and real estate taxes; changes in the dividend
policy for Realty Income's or VEREIT's common
stock or Realty Income's or VEREIT's ability to
pay dividends; impairment charges; unanticipated changes
in Realty Income's or VEREIT's intention or
ability to prepay certain debt prior to maturity and/or hold
certain securities until maturity; pandemics or other health
crises, such as coronavirus (COVID-19); and those additional risks
and factors discussed in reports filed with the U.S.
Securities and Exchange Commission (" SEC ")
by Realty Income and VEREIT . Moreover, other
risks and uncertainties of which Realty
Income or VEREIT are not currently aware may also
affect each of the companies' forward-looking statements and may
cause actual results and the timing of events to differ materially
from those anticipated. The forward-looking statements made in this
communication are made only as of the date hereof or as of the
dates indicated in the forward-looking statements, even if they are
subsequently made available by Realty
Income or VEREIT on their respective websites or
otherwise. Neither Realty Income nor VEREIT undertakes
any obligation to update or supplement any forward-looking
statements to reflect actual results, new information, future
events, changes in its expectations or other circumstances that
exist after the date as of which the forward-looking statements
were made.
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SOURCE VEREIT, Inc.