America First Multifamily Investors, L.P. Announces 12% Increase in Quarterly Distribution and a Supplemental Distribution
15 Junio 2022 - 7:30AM
On June 15, 2022, America First Multifamily Investors, L.P.
(NASDAQ: ATAX) (the “Partnership” or “ATAX”) announced that the
Board of Managers of Greystone AF Manager LLC (“Greystone Manager”)
declared a cash distribution to the Partnership’s Beneficial Unit
Certificate (“BUC”) holders of $0.57 per BUC. The distribution
consists of a regular quarterly distribution of $0.37 per BUC plus
a supplemental distribution of $0.20 per BUC. The distribution is
payable on July 29, 2022 to BUC holders of record as of the close
of trading on June 30, 2022. The BUCs will trade ex-distribution as
of June 29, 2022.
The increase in the regular quarterly
distribution to $0.37 per BUC represents a 12% increase from the
previous quarterly distribution of $0.33 per BUC, which was
declared in March 2022. The supplemental distribution of $0.20 per
BUC reflects a portion of the Partnership’s recent gains on the
sale of its Vantage investments. The supplemental distribution has
been declared in connection, and will be paid together, with the
regular quarterly distribution.
While the Board has not yet declared any
distributions for subsequent quarters, the Partnership currently
expects to continue to be in a position to make supplemental
distributions, in addition to the regular quarterly distributions,
for the remaining quarterly periods in 2022.
“The Board’s approval of a 12% increase to the
regular quarterly distribution demonstrates its confidence in the
execution of our strategy and the strong cash generation capability
of our portfolio of investments,” said Kenneth C. Rogozinski, Chief
Executive Officer of ATAX. “The meaningful supplemental
distribution declared today demonstrates our commitment to
returning a significant portion of our earnings from Vantage
investment sales to our unitholders.”
Greystone Manager is the general partner of
America First Capital Associates Limited Partnership Two, the
Partnership’s general partner. Distributions to the Partnership’s
BUC holders, including regular and any supplemental distributions,
are determined by Greystone Manager based on a disciplined
evaluation of the Partnership’s current and anticipated operating
results, financial condition and other factors it deems relevant.
Greystone Manager continually evaluates the factors that go into
BUC holder distribution decisions, consistent with the long-term
best interests of the BUC holders and the Partnership.
About America First Multifamily Investors,
L.P.
America First Multifamily Investors, L.P. was
formed on April 2, 1998 under the Delaware Revised Uniform Limited
Partnership Act for the primary purpose of acquiring, holding,
selling and otherwise dealing with a portfolio of mortgage revenue
bonds which have been issued to provide construction and/or
permanent financing for affordable multifamily, student housing and
commercial properties. The Partnership is pursuing a business
strategy of acquiring additional mortgage revenue bonds and other
investments on a leveraged basis. The Partnership expects and
believes the interest earned on these mortgage revenue bonds is
excludable from gross income for federal income tax purposes.
The Partnership seeks to achieve its investment growth strategy by
investing in additional mortgage revenue bonds and other
investments as permitted by the Partnership’s Amended and Restated
Limited Partnership Agreement, dated September 15, 2015, taking
advantage of attractive financing structures available in the
securities market, and entering into interest rate risk management
instruments. America First Multifamily Investors, L.P. press
releases are available
at www.ataxfund.com.
Safe Harbor Statement
Certain statements in this press release are
intended to be covered by the safe harbor for “forward-looking
statements” provided by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements generally can be
identified by use of statements that include, but are not limited
to, phrases such as “believe,” “expect,” “future,” “anticipate,”
“intend,” “plan,” “foresee,” “may,” “should,” “will,” “estimates,”
“potential,” “continue,” or other similar words or phrases.
Similarly, statements that describe objectives, plans, or goals
also are forward-looking statements. Such forward-looking
statements involve inherent risks and uncertainties, many of which
are difficult to predict and are generally beyond the control of
the Partnership. The Partnership cautions readers that a number of
important factors could cause actual results to differ materially
from those expressed in, implied, or projected by such
forward-looking statements. Risks and uncertainties include, but
are not limited to: defaults on the mortgage loans securing our
mortgage revenue bonds and governmental issuer loans; the
competitive environment in which the Partnership operates; risks
associated with investing in multifamily, student, senior citizen
residential properties and commercial properties; general economic,
geopolitical, and financial conditions, including the current and
future impact of changing interest rates, inflation, international
conflicts, and the novel coronavirus (“COVID-19”) on business
operations, employment, and financial conditions; the Partnership’s
ability to access debt and equity capital to finance its assets;
current maturities of the Partnership’s financing arrangements and
the Partnership’s ability to renew or refinance such financing
arrangements; potential exercising of redemption rights by the
holders of the Series A Preferred Units; local, regional, national
and international economic and credit market conditions; recapture
of previously issued Low Income Housing Tax Credits in accordance
with Section 42 of the Internal Revenue Code; geographic
concentration within the mortgage revenue bond and governmental
issuer loan portfolio held by the Partnership; changes in the
Internal Revenue Code and other government regulations affecting
the Partnership’s business; and the other risks detailed in the
Partnership’s SEC filings (including but not limited to, the
Partnership’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K). Readers are urged to
consider these factors carefully in evaluating the forward-looking
statements.
If any of these risks or uncertainties
materializes or if any of the assumptions underlying such
forward-looking statements proves to be incorrect, the developments
and future events concerning the Partnership set forth in this
press release may differ materially from those expressed or implied
by these forward-looking statements. You are cautioned not to place
undue reliance on these statements, which speak only as of the date
of this document. We anticipate that subsequent events and
developments will cause our expectations and beliefs to change. The
Partnership assumes no obligation to update such forward-looking
statements to reflect events or circumstances after the date of
this document or to reflect the occurrence of unanticipated events,
unless obligated to do so under the federal securities laws.
MEDIA CONTACT: |
|
Karen
Marotta |
|
Greystone |
|
212-896-9149 |
|
Karen.Marotta@greyco.com |
|
|
INVESTOR CONTACT: |
|
Andy Grier |
|
Senior Vice President |
|
402-952-1235 |
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