Chicago Atlantic Real Estate Finance Declares Common Stock Dividend of $0.47for the Fourth Quarter of 2022
CHICAGO, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the fourth quarter of 2022. The dividend, which equates to an annualized rate of $1.88 per common share, is payable on January 13, 2023, to shareholders of record as of the close of business on December 30, 2022.
The board of directors also declared a special cash dividend of $0.29 per share, which will be included in fiscal year 2022 taxable income for federal income tax purposes. The special dividend is payable on January 13, 2023, to shareholders of record as of the close of business on December 30, 2022.
John Mazarakis, Executive Chairman of Chicago Atlantic, noted, “We are pleased to provide a fourth quarter regular dividend in line with our previous expectations. Throughout the second half of this year, we have been conservative in our capital deployment and in our dividend payout ratio to account for what we believe could be a more challenging economic environment in 2023. The combined $1.81 in regular quarterly dividends declared during 2022 and the additional special dividend of $0.29 reflect our success in redeploying capital from refinancings and early payoffs into higher yielding loans on an accretive basis as well as the depth and quality of our loan pipeline.”
About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a market-leading mortgage REIT utilizing significant real estate, credit and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States.
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