Business
Regency Affiliates Announces $.05 Quarterly Dividend
Regency Affiliates Announces $.05 Quarterly Dividend.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates Announces $.05 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 $.05 Quarterly Dividend\nStrong On-Going Performance from Investments\nPR Newswire\nNEW YORK, June 10, 2014\n\n\n\nNEW YORK, June 10, 2014 /PRNewswire/ -- Regency Affiliates, Inc. (RAFI) (\"Regency\") today announced that it will issue a quarterly dividend of $.05 per common share payable on July 07, 2014 to shareholders of record at the close of trading on June 30, 2014. \n\nManagement Comments \n\n\"We are pleased with the performance of our investments,\" commented Laurence Levy, Chairman and Chief Executive of Regency. \"Further, we believe that the cash flow and growth we have seen in the recent past should enable us to grow our dividend 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 $41.5 million as of June 30, 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 continues to perform strongly and currently generates in excess of $2.75 million of cash distributions per annum for Regency.\" \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 characteristics and valuation criteria. Our cash resources and value per share continue to grow based on our existing investments. Accordingly, we anticipate reviewing and potentially increasing our quarterly dividend in the near future.  In order t...