Jernigan Capital Announces Dividends for Third Quarter 2019
Jernigan Capital, Inc. (NYSE:JCAP) (the “Company”) announced today that its Board of Directors declared a cash dividend of $0.35 per share of common stock for the quarter ending September 30, 2019. The dividend is payable on October 15, 2019 to stockholders of record on October 1, 2019. The quarterly distribution represents an annualized dividend rate of $1.40 per share, which is the annual dividend rate that the Company has maintained since its IPO in 2015.
The Company’s Board of Directors also declared a cash dividend on the Series B Preferred Stock in the amount of $0.4375 per share for the quarter ending September 30, 2019. The dividend is payable on October 15, 2019 to holders of Series B Preferred Stock of record on October 1, 2019. The quarterly distribution represents an annualized dividend rate of $1.75 per share.
About Jernigan Capital, Inc.
Jernigan Capital, Inc. is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities with a view to eventual outright ownership of facilities it financed. Its mission is to maximize shareholder value by accumulating a multi-billion-dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. The ultimate occurrence of events and results referenced in these forward-looking statements is subject to known and unknown risks and uncertainties, many of which are beyond our control. These forward-looking statements are based upon the Company's present intentions and expectations, but the events and results referenced in these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For a discussion of these and other risks facing our business, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) and our other filings with the SEC from time to time, which are accessible on the SEC’s website at www.sec.gov.