The Board of Directors also declared a cash dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Perpetual Preferred Stock payable on April 15, 2025, to stockholders of record on April 1, 2025.
This decision reflects the company’s commitment to long-term shareholder interests. The revision is consistent with the Company’s updated business plan that is focused on quality assets and a conservative balance sheet, with reduced development risk and limited exposure to floating interest rates. The payout is now fully covered by property income without any consideration of fee income.
“After careful consideration, the Board of Directors has made the decision toright size the quarterly dividend,” said Shawn Tibbetts, Chief Executive Officer and President of Armada Hoffler. “This decision reflects our commitment to aligning the dividend with our long-term objectives.”
Armada Hoffler’s management team is available for individual investor meetings or teleconferences. Please reach out to Chelsea Forrest, at CForrest@ArmadaHoffler to schedule.
About Armada Hoffler
Armada Hoffler is a vertically integrated, self-managed real estate investment trust (“REIT”) with over four decades of experience developing, building, acquiring, and managing high-quality, institutional-grade office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. In addition to developing and building properties for its own account, the Company also provides development and general contracting construction services to third-party clients. Founded in 1979 by Daniel A. Hoffler, the Company has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information, visit ArmadaHoffler.com.
Contact:
Chelsea Forrest
Armada Hoffler
VP of Corp. Comms. and Investor Relations
Email: CForrest@ArmadaHoffler.com
Phone: (757) 366-4000
