Gramercy reinstates common stock dividend

The initial quarterly payout will be $0.035 per share to be paid on April 15 to holders of record as of March 31. The annualized yield is 2.5% based on last night's close of $5.68.

Management had previously indicated a resumption of the common dividend was likely early this year.

CEO Gordon DuGan: "We are currently focused on Gramercy's growth trajectory and therefore our dividend policy will be based upon a low payout ratio for the time being."

GPT no trades premarket.

Comments (1)
  • DeepValueLover
    , contributor
    Comments (11220) | Send Message
    Right on!
    13 Mar 2014, 11:44 AM Reply Like
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