CIM Income NAV Declares $0.04 Per Share Distribution for April 2020
May 1, 2020
From the 8-K filed May 1, 2020:
“Given the impact of the COVID-19 outbreak, the board of directors of CIM Income NAV, Inc. (the “Company”) (the “Board”) has decided to make a determination as to the amount and timing of distributions on a monthly, instead of a quarterly, basis until such time that the Company has greater visibility into the impact that the COVID-19 outbreak will have on its tenants’ ability to continue to pay rent on their leases on a timely basis or at all, the degree to which federal, state or local governmental authorities grant rent relief or other relief or amnesty programs applicable to its tenants, the Company’s ability to access the capital markets, and on the United States and worldwide financial markets and economy.
On April 20, 2020, the Board authorized a distribution for the month of April 2020 of $0.04 per share of the Company’s Class D, Class T, Class S and Class I common stock. The distributions for each class of common stock are payable to stockholders of record as of the close of business on April 30, 2020 and will be paid on May 1, 2020. These distributions will be paid in cash or reinvested in shares of the Company’s common stock for stockholders participating in the Company’s distribution reinvestment plan.”
During 2019, the REIT declared distributions of $0.98 per Class D and Class T share. The $0.04 per share declaration for April 2020 would be $0.48 if annualized.
Source: SEC
