Business
Regency Affiliates Announces A 10% Quarterly Dividend Increase
Regency Affiliates Announces A 10% Quarterly Dividend Increase.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates Announces A 10% Quarterly Dividend Increase\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nRegency Affiliates Announces A 10% Quarterly Dividend Increase\nStrong On-Going Performance from Investments\nPR Newswire\nNEW YORK, Sept. 10, 2014\n\n\n\n\n\n\n\n\nNEW YORK, Sept. 10, 2014 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) (\"Regency\") today announced that it will issue a quarterly dividend of $.055 per common share payable on  October 7, 2014 to shareholders of record at the close of trading on September 30, 2014. \n\n\nManagement Comments \n\n\"We are pleased to announce a 10% increase in our quarterly dividend to $0.055 per share\", commented Laurence Levy, Chairman and Chief Executive of Regency. \"After a review of our cash flow and growth we believe we will be able to support this dividend both currently and in the future.\" \n\n\"Our Security West investment represents a 50% indirect interest in real estate occupied by the United States Social Security Administration under a lease expiring in 2018. This lease has paid the mortgage on the property down from $98.5 million at the lease commencement on June 24, 2003, to $40.9 million as of August 15, 2014. We anticipate that the mortgage will be amortized by more than $6.5 million in 2014. Additionally, Regency owns an indirect 50% interest in Mobile Energy which owns and operates an energy facility located in Mobile, Alabama. The facility supplies co-generated steam and electricity for use in Kimberly-Clark's mill operations under a 15 year agreement signed in 2004. This investment currently generates in excess of $2.5 million of cash distributions per annum for Regency.  Since our investment in Mobile Energy, the debt on that entity has been amortized from $28.5 million on the date of our investment on April 30, 2004 to the current balance of $13.6 million.\"\n\n\"We are continuing to review and evaluate further investment opportunities for Regency, and intend to grow the company by investing in other attractive long term assets that meet our business characterist...