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Seritage Growth Properties (NYSE:SRG), a real estate investment trust with a market capitalization of approximately $204 million, declared on Tuesday a quarterly dividend for its 7.00% Series A Cumulative Redeemable Preferred Shares. The dividend, set at $0.4375 per share, is scheduled for distribution on April 15, 2025, to shareholders of record as of March 31, 2025.
This announcement, detailed in a recent 8-K filing with the Securities and Exchange Commission, is a routine corporate action by the Maryland-incorporated company. Seritage’s preferred shares, trading under the ticker SRG-PA, will see the dividend disbursed in about a month and a half from today, providing a return to investors holding these specific securities. The company maintains strong short-term liquidity with a current ratio of 4.23, according to InvestingPro data.
The declaration of dividends is a common practice among publicly traded companies, especially within the real estate sector, where investment trusts like Seritage often distribute a majority of their taxable income to shareholders in the form of dividends. Preferred shares typically offer dividends at a fixed rate and are paid out before any dividends are released to common shareholders. While the company maintains its preferred dividend payments, InvestingPro analysis shows the stock has faced significant challenges, with shares down over 62% in the past year.
Investors in Seritage’s preferred shares can expect the upcoming payment to be made in the middle of April, following the close of the record date at the end of March. This financial event reaffirms Seritage’s commitment to its dividend policy for preferred shareholders, even as the company navigates challenging market conditions with its current stock price of $3.62, trading below InvestingPro’s calculated Fair Value.
The information in this article is based on a press release statement.
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