NEW YORK, Jan. 14, 2022 /PRNewswire/ -- Bluerock
Residential Growth REIT, Inc. (NYSE American: BRG) (the "Company")
today announced that its Board of Directors has authorized and the
Company has declared monthly cash dividends on the Company's Series
B Redeemable Preferred Stock (the "Series B Preferred Stock") for
the first quarter of 2022, equal to a quarterly rate of
$15.00 per share (the "Series B
Preferred Dividends"). In addition, the Board of Directors
has authorized and the Company has declared monthly cash dividends
on the Company's Series T Redeemable Preferred Stock (the "Series T
Preferred Stock") for the first quarter of 2022, equal to a
quarterly rate of $0.384375 per share
(the "Series T Preferred Dividends").
The Series B Preferred Dividends will be payable in cash as
follows: $5.00 per share to be paid
on Friday, February 4, 2022 to
Series B Preferred stockholders of record as of Tuesday,
January 25, 2022; $5.00 per share to
be paid on Friday, March 4, 2022 to
Series B Preferred stockholders of record as of Friday, February 25, 2022; and $5.00 per share to be paid on Tuesday, April
5, 2022 to Series B Preferred stockholders of record as of
Friday, March 25, 2022.
The Series T Preferred Dividends will be payable in cash as
follows: $0.128125 per share to be
paid on Friday, February 4, 2022 to
Series T Preferred stockholders of record as of Tuesday,
January 25, 2022; $0.128125 per share
to be paid on Friday, March 4, 2022
to Series T Preferred stockholders of record as of Friday, February 25, 2022; and $0.128125 per share to be paid on Tuesday,
April 5, 2022 to Series T Preferred stockholders of record as of
Friday, March 25, 2022.
Newly-issued shares of Series T Preferred Stock held for only
a portion of the applicable monthly dividend period will receive a
prorated Series T Preferred Dividend based on the actual number of
days in the applicable dividend period during which each such share
of Series T Preferred Stock was outstanding, as permitted under the
Articles Supplementary to the Company's charter dated November 13, 2019.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE
American: BRG) is a real estate investment trust
that focuses on developing and
acquiring a diversified portfolio of
institutional-quality highly amenitized live/work/play
apartment communities in demographically attractive knowledge
economy
growth markets to appeal to the renter by choice. The Company's
objective is to generate value through off-market/relationship-based transactions and, at the asset level, through
value-add improvements to properties and to operations.
BRG has elected
to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
For more information, please visit our website
at: www.bluerockresidential.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. Although the Company believes
that the expectations reflected in these forward-looking statements
are based on reasonable assumptions, the Company's actual results
and performance could differ materially from those set forth in
these forward-looking statements due to numerous factors.
Currently, one of the most significant factors is the potential
adverse effect of the COVID-19 pandemic on the financial condition,
results of operations, cash flows and performance of the Company
and its tenants, partners and employees, as well as the real estate
market and the global economy and financial markets. The extent to
which COVID-19 impacts the Company and its tenants, partners and
employees will depend on future developments, which are highly
uncertain and cannot be predicted with confidence, including the
scope, severity and duration of the pandemic, the actions taken to
contain the pandemic or mitigate its impact (including governmental
actions that may vary by jurisdiction, such as mandated business
closing; stay-at-home orders; limits on group activity; and actions
to protect residential tenants from eviction), and the direct and
indirect economic effects of the pandemic and containment measures,
including national and local employment rates and the corresponding
impact on the Company's tenants' ability to pay their rent on time
or at all, among others. 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 February 23,
2021, 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 Residential Growth REIT, Inc.