Business
Regency Affiliates Announces A 5.875 Cent Quarterly Dividend
Regency Affiliates Announces A 5.875 Cent Quarterly Dividend.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates Announces A 5.875 Cent Quarterly Dividend\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 5.875 Cent Quarterly Dividend\nStrong On-Going Performance from Investments\nPR Newswire\nNEW YORK, June 7, 2016\n\n\n\nNEW YORK, June 7, 2016 /PRNewswire/ -- Regency Affiliates, Inc. (OTC Pink: RAFI) (\"Regency\") today announced that it will issue a quarterly dividend of 5.875 cents per common share on July 8, 2016 to shareholders of record at the close of trading on June 30, 2016. \n\nManagement Comments \n\n\"We are pleased to declare a quarterly dividend of 5.875 cents per common share which is inclusive of the 6.8% increase initiated in October 2015,\" commented Laurence Levy, Chairman and Chief Executive of Regency. \"After a review of our cash flow and growth prospects, we anticipate a further increase in the dividend in the near term as we benefit from the expected cash flows generated by the recently acquired portfolio of self-storage assets in and around Harrisburg, Pennsylvania.\"\n\n\"Our Security West investment represents a 50% limited partnership interest in real estate occupied by the United States Social Security Administration under a lease expiring in 2018. The mortgage balance will be amortized to approximately $28.9 million on June 30, 2016, down from $98.5 million at the lease commencement on June 24, 2003. We anticipate that the mortgage will be amortized by more than $7.1 million in 2016.\" \n\n\"Regency also 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 $2.8 million of cash distributions per annum for Regency after debt amortization at the project level. 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 approximat...