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SITE Centers Declares Fourth Quarter 2019 Class A and Class K Preferred Share Dividends

December 3, 2019

BEACHWOOD, Ohio--(BUSINESS WIRE)--Dec 3, 2019--

SITE Centers Corp. (NYSE: SITC) declared its fourth quarter 2019 Preferred Class A stock dividend of $0.39844 per depositary share and Preferred Class K stock dividend of $0.39063 per depositary share.

Each Class A depositary share is equal to one-twentieth of a share of SITE Centers’ 6.375% Class A Cumulative Redeemable Preferred Stock. The declared Preferred Class A dividend covers the period beginning October 15, 2019 and ending January 14, 2020. The declared Preferred Class A Dividend is payable January 15, 2020 to shareholders of record at the close of business on December 27, 2019.

Each Class K depositary share is equal to one-twentieth of a share of SITE Centers’ 6.25% Class K Cumulative Redeemable Preferred Stock. The declared Preferred Class K dividend covers the period beginning October 15, 2019 and ending January 14, 2020. The declared Preferred Class K Dividend is payable January 15, 2020 to shareholders of record at the close of business on December 27, 2019.

About SITE Centers Corp.

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the Company is available at www.sitecenters.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

Safe Harbor

SITE Centers Corp. considers portions of the information in this press release to be 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, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as supply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant and the impact of any such event on rental income from other tenants and our properties; redevelopment and construction activities may not achieve a desired return on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements and our ability to satisfy conditions to the completion of these arrangements; the termination of any joint venture arrangements or arrangements to manage real property; property damage, expenses related thereto and other business and economic consequences (including the potential loss of rental revenues) resulting from extreme weather conditions in locations where we own properties, and the ability to estimate accurately the amounts thereof; sufficiency and timing of any insurance recovery payments related to damages from extreme weather conditions; any change in strategy; and our ability to maintain REIT status. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company’s most recent report on Form 10-K for the year ended December 31, 2018. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191203005662/en/

CONTACT: Conor Fennerty, EVP and Chief Financial Officer

216-755-5500

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: MEN RETAIL FAMILY CONSUMER HOME GOODS COMMERCIAL BUILDING & REAL ESTATE RESTAURANT/BAR CONSTRUCTION & PROPERTY DEPARTMENT STORES OTHER RETAIL SUPERMARKET SPECIALTY WOMEN REIT

SOURCE: SITE Centers Corp.

Copyright Business Wire 2019.

PUB: 12/03/2019 04:05 PM/DISC: 12/03/2019 04:05 PM

http://www.businesswire.com/news/home/20191203005662/en