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MIAMI - Safe and Green Development Corporation (NASDAQ: SGD), a real estate development company trading at $1.19 per share, announced today that its Board of Directors has approved a stock dividend for its shareholders. For each share owned, shareholders will receive 0.05 additional shares of common stock, which translates to one new share for every twenty shares held. The record date for determining shareholder eligibility for the dividend is set for the close of business on April 7, 2025. According to InvestingPro data, this marks the company’s first dividend distribution, as it has historically not paid dividends to shareholders.
The CEO of the company, David Villarreal, expressed satisfaction in providing this dividend, aligning it with the company’s commitment to its long-term strategy. The dividends are scheduled to be distributed after the market closes on April 22, 2025, and the stock will begin trading on a dividend-adjusted basis at the opening of the market on April 23, 2025. Fractional shares resulting from the dividend will be settled in cash based on the opening share price on April 8, 2025. The announcement comes amid challenging market conditions, with InvestingPro data showing the stock has declined by 95.2% over the past year, trading significantly below its 52-week high of $53.80.
Safe and Green Development Corporation, established in 2021, specializes in acquiring properties for future development into environmentally friendly residential projects. Through its subsidiary, Majestic World Holdings LLC, the company has developed a real estate AI platform aimed at increasing profit margins on home sales by providing mortgage services and down payment assistance. Another subsidiary, MyVONIA Innovations LLC, owns MyVONIA, an AI personal assistant designed to streamline daily tasks and enhance productivity for both individuals and businesses. InvestingPro analysis reveals concerning financial metrics, including a weak financial health score of 0.36 and a high debt-to-equity ratio of 14.52, suggesting significant operational challenges.
The press release also included a Safe Harbor Statement mentioning that the information could contain forward-looking statements. It highlighted that actual results could differ from current expectations due to various factors, including the company’s ability to execute its long-term strategy and the effectiveness of its subsidiaries’ technologies in improving margins and productivity. InvestingPro identifies several risk factors, including rapid cash burn and potential difficulties in meeting short-term obligations, with a concerning current ratio of 0.08. Subscribers to InvestingPro can access 13 additional key insights about SGD’s financial position and market performance.
The information provided in this article is based on a press release statement from Safe and Green Development Corporation.
In other recent news, Safe and Green Development Corporation has announced a definitive agreement to acquire Resource Group US Holdings LLC, aiming to enhance its market presence by leveraging Resource Group’s composting technology. The acquisition, involving a cash payment and issuance of stock, is expected to close in the second quarter of 2025, pending standard conditions and an audit. Resource Group has reported revenue growth from $16 million in 2023 to $19.1 million in 2024, with SGD projecting pro forma revenues of approximately $25 million in 2025 post-acquisition. This transaction will result in Resource Group’s shareholders owning 49% of SGD’s outstanding common stock.
Additionally, Safe and Green Development Corporation has regained compliance with Nasdaq’s stockholders’ equity requirement, ensuring its continued listing on The Nasdaq Capital Market. This compliance comes after a previous warning in August 2024 for not meeting the minimum criteria. Furthermore, the company has successfully placed all homes from the first phase of its Sugar Joint Venture under contract, with plans to begin construction on additional homes. These developments reflect the company’s strategic efforts to expand its business and maintain its market standing.
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