UNIONDALE, N.Y., Dec. 21,
2023 /PRNewswire/ -- ACRES Commercial Realty
Corp. (NYSE: ACR) (the "Company") announced today that its
Board of Directors declared cash dividends on its Preferred
Stock.
The Company will pay a cash dividend on its 8.625%
Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock in
the amount of $0.5390625 per share. The dividend will be
paid on January 30, 2024, to holders of record
on January 2, 2024.
The Company will also pay a cash dividend on its 7.875% Series D
Cumulative Redeemable Preferred Stock in the amount of $0.4921875 per share. The dividend will be
payable on January 30, 2024, to
holders of record on January 2,
2024.
About ACRES Commercial Realty Corp.
ACRES Commercial Realty Corp. is a real estate investment trust
that is primarily focused on originating, holding and managing
commercial real estate ("CRE") mortgage loans and equity
investments in commercial real estate property through direct
ownership and joint ventures. The Company is externally managed by
ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private
commercial real estate lender exclusively dedicated to nationwide
middle market CRE lending with a focus on multifamily, student
housing, hospitality, industrial and office property in top U.S.
markets. For more information, please visit the Company's website
at www.acresreit.com or contact investor relations
at IR@acresreit.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Such forward-looking statements can generally be
identified by our use of forward-looking terminology such as "may,"
"trend," "will," "continue," "expect," "intend," "anticipate,"
"estimate," "believe," "look forward" or other similar words or
terms. Because such statements include risks, uncertainties and
contingencies, actual results may differ materially from the
expectations, intentions, beliefs, plans or predictions of the
future expressed or implied by such forward-looking statements.
Factors that can affect future results are discussed in the
documents filed by the Company from time to time with
the Securities and Exchange Commission. The
Company undertakes no obligation to update or revise any
forward-looking statement to reflect new or changing information or
events after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required by law.
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SOURCE ACRES Commercial Realty Corp.
