Seeking Alpha

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."
  • Press release
  • GPT no trades premarket.
Comments (1)
  • DeepValueLover
    , contributor
    Comments (9713) | Send Message
     
    Right on!
    13 Mar 2014, 11:44 AM Reply Like
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