Chicago Atlantic Real Estate Initiates Quarterly and Special Cash Dividends

Dow Jones2024-12-21

By Katherine Hamilton

Chicago Atlantic Real Estate Finance said it is initiating a quarterly dividend of 47 cents a share, plus a special cash dividend.

The commercial real estate investment trust said Friday its board of directors approved the fourth-quarter dividend to be payable on Jan. 13. The payout, equal to $1.88 a year, represents an annual yield of about 11.8% based on Friday's closing price of $15.98. The dividend price is the same as it was in the previous quarter.

The board also approved a special cash dividend of 18 cents a share. The dividend is required for the company to comply with federal income tax rules for REITs, it said. The price was calculated based on estimated performance for 2024. It is set to be payable on Jan. 13.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

December 20, 2024 16:41 ET (21:41 GMT)

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