AFC Gamma Announces Record Date and Special Dividend for Spin-Off of Commercial Real Estate Portfolio
AFC Gamma, a leading commercial finance firm specializing in providing loans to the cannabis industry, has recently made some significant announcements regarding its upcoming activities.On July 8, 2024, the record date for the distribution of Sunrise Realty Trust will take place, with the distribution date expected to follow on July 9, 2024.Additionally, the company’s Board of Directors has declared a special dividend of $0.15 per share for the spin-off.
This news comes on the heels of AFC Gamma’s recent dividend declaration of $0.48 per share for the quarter ending September 30, 2023.The company has shown a strong commitment to rewarding its shareholders, evident in its increasing 12 Months dividend pay out ratio, which reached 385.3 in the first quarter of 2024.When compared to its peers in the Services sector, AFCG has outperformed many, with only one other company in the sector boasting a higher 12 Months dividend pay out ratio.
With its current ranking higher than 64 in the fourth quarter of 2023, AFC Gamma Inc continues to demonstrate its dedication to providing value to its investors.The company’s strategic decisions, such as the spin-off of its commercial real estate portfolio, show its commitment to growth and creating opportunities for its shareholders.
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