NEW YORK,
May 3,
2024 /PRNewswire/ -- Bluerock Homes Trust, Inc. (NYSE
American: BHM) (the "Company") today announced that its Board of
Directors (the "Board") has authorized the payment of a new special
dividend (the "Series A Preferred Special Dividends") with respect
to the Company's Series A Redeemable Preferred Stock (the "Series A
Preferred Stock") replacing its previously announced special
dividend. The Company intends to pay the Series A Preferred Special
Dividends which will be seamlessly aggregated with the regular
monthly dividend so as to effect a dividend rate of the average
1-month term SOFR rate ("SOFR Rate") plus 2%, subject to a 6.5%
minimum and 8.5% maximum annual rate, calculated and paid
monthly.
By way of example, if the average SOFR Rate is
equal to 5.3% for a particular month, the aggregate dividend per
share with respect to that month would be 1/12th of 7.3%
(the SOFR Rate plus 2%) based on the Stated Value of $25.00 per share, or $0.152. Conversely, if the average SOFR Rate is
equal to 3.0% for a particular month, the aggregate dividend per
share with respect to that month would be 1/12th of the
6.5% annual dividend minimum based on the Stated Value of
$25.00 per share, or $0.135.
The Series A Preferred Special Dividends shall be
declared for each month for which the Board declares the regular
monthly dividend of $0.125 per
outstanding share of Series A Preferred Stock, commencing in
May 2024 (payable in June 2024. The Series A Preferred Special
Dividends will be calculated based on the 1-month term SOFR Rate
for each day commencing on the 26th day of the prior
month and ending on the 25th day of the applicable
month, payable on the 5th of each month.
About Bluerock Homes Trust,
Inc.
Bluerock Homes Trust, Inc. (NYSE American: BHM),
headquartered in New York, New
York, is an externally managed REIT that owns and operates
high-quality single-family properties located in attractive markets
with a focus on the knowledge-economy and high quality of life
regions of the Sunbelt and high growth areas of the Western United States. BHM's principal
objective is to generate attractive risk-adjusted investment
returns by assembling a portfolio of pre-existing single-family
rental homes and developing build-to-rent communities. BHM
properties are located across a diverse group of growth markets and
will seek to target a growing pool of middle-market renters seeking
the single-family lifestyle without the upfront and ongoing
investments associated with home ownership. For more information,
please visit bluerockhomes.com.
Forward Looking Statements
This
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
other federal securities laws. These forward-looking statements are
based upon the Company's present expectations, but these statements
are not guaranteed to occur. Furthermore, the Company disclaims any
obligation to publicly update or revise any forward-looking
statement to reflect changes in underlying assumptions or factors,
of new information, data or methods, future events or other
changes. Investors should not place undue reliance upon
forward-looking statements. For further discussion of
the factors that could affect outcomes, please refer to the risk
factors set forth in Item 1A of the Company's Annual Report on Form
10-K filed by the Company with the U.S. Securities and
Exchange Commission ("SEC") on March 22,
2023, and subsequent filings by the Company with
the SEC. We claim the safe harbor protection for forward
looking statements contained in the Private Securities Litigation
Reform Act of 1995.
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SOURCE Bluerock Homes Trust, Inc.