CMCT Declares Common and Series L Preferred Stock Dividends

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[{"type":"text","content":" DALLAS--(BUSINESS WIRE)--\nCMCT (NASDAQ: CMCT and TASE: CMCT-L) announced today that its Board of Directors has declared a quarterly cash dividend of $0.085 per share of common stock. The dividend will be paid on January 9, 2023 to stockholders of record at the close of business on December 27, 2022.\n\nIn addition, the Board of Directors has declared an annual cash dividend of $1.56035 per share of CMCT's Series L Preferred Stock. The dividend will be paid on January 25, 2023 to Series L Preferred Stockholders of record on December 29, 2022.\n\nABOUT CMCT\n\nCreative Media & Community Trust Corporation (“CMCT”) is a real estate investment trust that seeks to own, operate and develop premier multifamily and creative office assets in vibrant and emerging communities throughout the United States. CMCT is a leader in creative office, acquiring and developing properties catering to rapidly growing industries such as technology, media and entertainment. CMCT seeks to apply the expertise of CIM to the acquisition, development, and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment characteristics to its creative office investments. CMCT also owns one hotel in Northern California and a lending platform that originates loans under the Small Business Administration (“SBA”)’s 7(a) loan program. CMCT is operated by affiliates of CIM Group, L.P., a vertically-integrated owner and operator of real assets with multi-disciplinary expertise and in-house research, acquisition, credit analysis, development, finance, leasing, and onsite property management capabilities. (www.creativemediacommunity.com).\n\nFORWARD-LOOKING STATEMENTS\n\nThis press release contains certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), which are intended to be covered by the safe harbors created thereby. Such forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “project,” “target,” “expect,” “intend,” “might,” “believe,” “anticipate,” “estimate,” “could,” “would,” “continue,” “pursue,” “potential,” “forecast,” “seek,” “plan,” or “should,” or “goal” or the negative thereof or other variations or similar words or phrases. Such forwa...

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