CMCT Announces Steps To Strengthen Balance Sheet And Improve Liquidity; To Shift Towards Premier Multifamily Assets, Plans To Strengthen Balance Sheet Through Refinancing And Preferred Stock Redemptions
Portfolio Pulse from Benzinga Newsdesk
CMCT is taking steps to strengthen its balance sheet and improve liquidity by shifting focus from office to premier multifamily assets. The company plans refinancing and preferred stock redemptions, and declared a $0.04 per share quarterly dividend payable in common stock.
September 16, 2024 | 12:58 pm
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CMCT is transitioning its focus to premier multifamily assets and plans to strengthen its balance sheet through refinancing and preferred stock redemptions. The company declared a $0.04 per share dividend payable in common stock.
CMCT's strategic shift towards multifamily assets and refinancing efforts are likely to improve its financial stability and appeal to investors. The declared dividend, although small, is a positive signal of financial health.
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