DALLAS--(BUSINESS WIRE)--Mar. 6, 2018--
CIM Commercial Trust Corporation (NASDAQ:CMCT), a real estate investment
trust (REIT) that principally acquires, owns, and operates Class A and
creative office assets in vibrant and improving urban communities
throughout the U.S., announced today that its Board of Directors has
declared a quarterly cash dividend of $0.125 per common share. The
dividend will be paid on March 29, 2018 to shareholders of record at the
close of business on March 16, 2018.
In addition, the Board of Directors has declared a quarterly cash
dividend of $0.34375 per share of CMCT's Series A Preferred Stock. For
shares issued during the first quarter of 2018, the dividend will be
prorated from the time of issuance. The dividend will be payable on
April 16, 2018 to holders of record at the close of business on April 5,
2018.
ABOUT CIM COMMERCIAL TRUST CORPORATION
CIM Commercial Trust Corporation is a real estate investment trust
(REIT) that principally acquires, owns, and operates Class A and
creative office assets located in vibrant and improving urban
communities throughout the U.S. Properties are primarily located in Los
Angeles, the San Francisco Bay Area and Washington, D.C. CIM Commercial
Trust Corporation is operated by CIM Group and its affiliates, a
vertically- integrated, owner and operator of real assets with
multi-disciplinary expertise and in-house research, acquisition, credit
analysis, development, finance, leasing, and asset management
capabilities. In addition, CIM Commercial Trust continues to deploy a
portion of its capital to its real estate lending platform through its
wholly owned subsidiary (d/b/a PMC Commercial Trust) that originates and
services loans under the U.S. Small Business Administration 7(a)
Guaranteed Loan Program as well as through other lending programs. www.cimcommercial.com
FORWARD-LOOKING STATEMENTS
The information set forth herein contains "forward-looking statements."
You can identify these statements by the fact that they do not relate
strictly to historical or current facts or discuss the business and
affairs of CIM Commercial Trust Corporation on a prospective basis.
Further, statements that include words such as "may," "will," "project,"
"might," "expect," "believe," "anticipate," "intend," "could," "would,"
"estimate," "continue," "pursue," or "should" or the negative or other
words or expressions of similar meaning, may identify forward-looking
statements.
CIM Commercial Trust bases these forward-looking statements on
particular assumptions that it has made in light of its experience, as
well as its perception of expected future developments and other factors
that it believes are appropriate under the circumstances. The
forward-looking statements are necessarily estimates reflecting the
judgment of CIM Commercial Trust and involve a number of risks and
uncertainties that could cause actual results to differ materially from
those suggested by the forward-looking statements. These forward-looking
statements are subject to risks, uncertainties and other factors,
including those set forth in CIM Commercial Trust's Annual Report on
Form 10-K for the fiscal year ended December 31, 2016.
As you read and consider the information herein, you are cautioned to
not place undue reliance on these forward-looking statements. These
statements are not guarantees of performance or results and speak only
as of the date hereof. These forward-looking statements involve risks,
uncertainties and assumptions. In light of these risks and
uncertainties, there can be no assurance that the results and events
contemplated by the forward-looking statements contained herein will in
fact transpire. New factors emerge from time to time, and it is not
possible for CIM Commercial Trust to predict all of them. Nor can CIM
Commercial Trust assess the impact of each such factor or the extent to
which any factor, or combination of factors may cause results to differ
materially from those contained in any forward-looking statement. CIM
Commercial Trust undertakes no obligation to publicly update or release
any revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180306006814/en/
Source: CIM Commercial Trust Corporation
For CIM Commercial Trust Corporation
Media Relations:
Bill
Mendel, 212-397-1030
bill@mendelcommunications.com
or
Investor
Relations:
Steve Altebrando, 646-652-8473
investors@cimcommercial.com