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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K


CURRENT REPORT

 

Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

August 4, 2022

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

(Exact name of registrant as specified in charter)

Maryland 000-25043 22-1697095
(State or other jurisdiction of incorporation) (Commission
File Number)		 (IRS Employer
Identification No.)

 

 505 Main Street, Hackensack, New Jersey 07601
(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (201) 488-6400

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading
Symbol(s)		 Name of each exchange on which registered
Common Stock, par value $0.01 per share FREVS OTC Pink Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Section 8 - Other Events

Item 8.01 Other Events .

On August 4, 2022, First Real Estate Investment Trust of New Jersey, Inc. (“FREIT”) announced that its Board of Directors declared a special, extraordinary, non-recurring cash distribution of $7.50 per share. The distribution is payable on August 30, 2022, to stockholders of record on August 16, 2022 (ex-dividend date August 15, 2022).

This distribution represents most of the after-tax proceeds of FREIT’s previously reported extraordinary sale of its portfolio of Maryland properties in December 2021 and January 2022.

A copy of the press release announcing the distribution is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

 

Forward-Looking and Cautionary Statements

The declaration of ordinary cash dividends in the future is subject to final determination each quarter by the Board of Directors based on a number of factors, including FREIT’s financial performance and its available cash resources. For these reasons, as well as others, there can be no assurance that dividends in the future will be equal or similar to the extraordinary distribution described in this report or that the Board of Directors will not decide to suspend or discontinue the payment of cash dividends in the future.

The forward-looking statements in this report regarding our future financial performance are based on current information and, because our business is subject to a number of risks and uncertainties, actual operating results in the future may differ significantly from the future financial performance expected at the current time.

Certain risks and uncertainties, in addition to other risks, are more fully described in FREIT’s Annual Report on Form 10-K for the fiscal year ended October 31, 2021, and readers of this report are urged to review the discussion of those risks and uncertainties that are contained in that report.

Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this report, which speak only as of today’s date, or to make predictions based solely on historical financial performance. We also disclaim any obligation to update forward-looking statements contained in this report or as a result of new information, future events or otherwise.

 

 

 

Section 9 – Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 Press Release dated August 4, 2022.

 

 

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  FIRST REAL ESTATE INVESTMENT
TRUST OF NEW JERSEY, INC.
  (Registrant)
   
   
  By: /s/ Robert S. Hekemian, Jr.
    Robert S. Hekemian, Jr.
    President and Chief Executive Officer

Date: August 4, 2022

 

 

 

 

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