Benefit Street Partners Realty Trust Reinstates DRIP, Declares Q2 Distribution
June 24, 2020
On June 23, 2020, Benefit Street Partners Realty Trust, Inc. (the “Company”) announced that the Company’s Amended and Restated Distribution Reinvestment and Stock Purchase Plan (the “DRIP”), which had been temporarily suspended in March 2020 for the March 2020 dividend, would be effective for the Company’s upcoming second-quarter 2020 dividend. Therefore, second-quarter dividends payable to stockholders enrolled in the DRIP will be reinvested into shares of the Company’s common stock in accordance with the terms of the DRIP.
On June 23, 2020, the Company’s Board of Directors declared (i) a quarterly cash dividend of $0.275 per common share (equivalent to $1.10 per annum), and (ii) a quarterly cash dividend per share of its Series A convertible preferred stock and Series C convertible preferred stock equivalent to the amount of distributions that would be paid upon a conversion of such share of preferred stock into common stock. The Company expects to pay these second quarter 2020 dividends in the first week of July 2020.
In 2019, the Company’s board of directors authorized and declared ongoing monthly distributions at a rate equivalent to $1.44 per annum, per share. This rate had been consistent since Q3 2017.
Source: SEC
