Business
Regency Affiliates Announces A $.05875 Quarterly Dividend
Regency Affiliates Announces A $.05875 Quarterly Dividend.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates Announces A $.05875 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 $.05875 Quarterly Dividend\nStrong On-Going Performance from Investments\nPR Newswire\nNEW YORK, March 8, 2016\n\n\n\nNEW YORK, March 8, 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 April 7, 2016 to shareholders of record at the close of trading on March 31, 2016. \n\nManagement Comments \n\n\"We are pleased to declare our quarterly dividend of 5.875 cents per share which will include 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, 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. The mortgage balance will be amortized to approximately $30.7 million on March 31, 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 $7.15 million in 2016. \n\n\"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 $2.8 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 approximately $9.9 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 me...