Noticias y eventos de Site Centers Corp (SITC)SITCSite Centers Corp

Site Centers Sells Interests for $32.4M, Declares Special Cash Distribution of $3.00

Site Centers announced the sale of its interests in the Dividend Trust Portfolio joint venture for net proceeds of approximately $32.4M. The Board also declared a special cash distribution on its common shares of $3.00 per common share payable on November 5 to shareholders of record at the close of business on October 27. Because the payment of the special dividend represents more than 25% of the price of the company's common shares, its common shares will trade with "due bills" representing an assignment of the right to receive the special dividend from the record date of October 27 through the closing of trading on NYSE on November 5. Shareholders who sell their common shares during the Dividend Right Period will be selling their right to the special dividend, and such shareholders will not be entitled to receive the special dividend.

Site Centers Announces Plan for Voluntary De-listing

Site Centers announced its intention to provide notice to the New York Stock Exchange of its plan to voluntarily de-list its common shares. The announcement was made in anticipation that the payment of the special distribution declared on October 15, 2026 will cause the trading price of the company's common shares and its market capitalization to approach levels that would trigger involuntary de-listing by the New York Stock Exchange. The company expects that the de-listing of its common shares will occur prior to the commencement of trading on December 4, 2026. The company has not arranged for listing and/or registration of its common shares on another national securities exchange or for quotation of its common shares in a quotation medium.

SITE Centers Q2 Revenue $6.952M vs $31.108M Last Year

Reports Q2 revenue $6.952M vs $31.108M last year. "Year to date, the Company has sold five properties, a land parcel and a joint venture interest for aggregate gross sales prices of approximately $167.8 million," commented David R. Lukes, President and Chief Executive Officer. "SITE Centers remains focused on maximizing the value of its remaining assets through additional asset sales and resolution of its investment in the DTP joint venture."