Business
Regency Affiliates Announces the Release of Its Financial Statements for 2013
Regency Affiliates Announces the Release of Its Financial Statements for 2013.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates Announces the Release of Its Financial Statements for 2013\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 the Release of Its Financial Statements for 2013\nStrong On-Going Performance from Investments\nPR Newswire\nNEW YORK, Aug. 1, 2014\n\n\n\n\n\n\n\n\nNEW YORK, Aug. 1, 2014 /PRNewswire/ -- Regency Affiliates, Inc. (OTC-PINK: RAFI) (\"Regency\") today announced the release of its audited 2013 financial statements.\n\n\nManagement Comments \n\n\"We are pleased with the continued performance of our investments,\" commented Laurence Levy, Chairman and Chief Executive of Regency. \"Further, we believe that the consistent cash flow and growth we have seen in the recent past should continue in the future.  Although we initiated a quarterly cash dividend in 2013, our financial position continues to strengthen and this trend should enable us to increase our dividend in the near future.  We are particularly pleased to have passed the $30 million milestone in Shareholder Equity.\" \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 $41.4 million as of July 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.\" \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 crite...