CLEVELAND, May 15, 2018 /PRNewswire/ -- Forest City Realty
Trust, Inc. (NYSE: FCEA) announced today that its board of
directors has declared a second-quarter 2018 cash dividend of
$0.18 per share of common stock,
payable on June 22, 2018, to holders
of record of common stock as of the close of business on
June 8, 2018.
Given the cumulative effect of prior distributions to
stockholders, the second-quarter dividend is expected to require
the company to adjust the conversion rates applicable to its 4.25%
Convertible Senior Notes due 2018 and 3.625% Convertible Senior
Notes due 2020 in excess of 1 percent, pursuant to the Indentures
governing those notes.
About Forest City
Forest City Realty Trust, Inc. is
an NYSE-listed national real estate company with $8.0 billion in consolidated assets. The company
is principally engaged in the ownership, development, management
and acquisition of office, apartment and retail real estate
throughout the United States. For
more information, visit www.forestcity.net.
Safe Harbor Language
Statements made in this news
release that state the company's or management's intentions, hopes,
beliefs, expectations or predictions of the future are
forward-looking statements. The company's actual results could
differ materially from those expressed or implied in such
forward-looking statements due to various risks, uncertainties and
other factors. Risks and factors that could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, the company's ability to carry out
future transactions and strategic investments, as well as the
acquisition related costs, unanticipated difficulties realizing
benefits expected when entering into a transaction, the company's
ability to qualify or to remain qualified as a REIT, its ability to
satisfy REIT distribution requirements, the impact of issuing
equity, debt or both, and selling assets to satisfy its future
distributions required as a REIT or to fund capital expenditures,
future growth and expansion initiatives, the impact of the amount
and timing of any future distributions, the impact from complying
with REIT qualification requirements limiting its flexibility or
causing it to forego otherwise attractive opportunities beyond
rental real estate operations, the impact of complying with the
REIT requirements related to hedging, its lack of experience
operating as a REIT, legislative, administrative, regulatory or
other actions affecting REITs, including positions taken by the
Internal Revenue Service, the possibility that the company's Board
of Directors will unilaterally revoke its REIT election, the
possibility that the anticipated benefits of qualifying as a REIT
will not be realized, or will not be realized within the expected
time period, the impact of current lending and capital market
conditions on its liquidity, its ability to finance or refinance
projects or repay its debt, the impact of the slow economic
recovery on the ownership, development and management of its
commercial real estate portfolio, general real estate investment
and development risks, litigation risks, vacancies in its
properties, risks associated with developing and managing
properties in partnership with others, competition, its ability to
renew leases or re-lease spaces as leases expire, illiquidity of
real estate investments, its ability to identify and transact on
chosen strategic alternatives for a portion of its retail
portfolio, bankruptcy or defaults of tenants, anchor store
consolidations or closings, the impact of terrorist acts and other
armed conflicts, its substantial debt leverage and the ability to
obtain and service debt, the impact of restrictions imposed by the
company's revolving credit facility, term loan and senior debt,
exposure to hedging agreements, the level and volatility of
interest rates, the continued availability of tax-exempt government
financing, its ability to receive payment on the note receivable
issued by Onexim in connection with their purchase of our interests
in the Barclays Center, the impact of credit rating downgrades,
effects of uninsured or underinsured losses, effects of a downgrade
or failure of its insurance carriers, environmental liabilities,
competing interests of its directors and executive officers, the
ability to recruit and retain key personnel, risks associated with
the sale of tax credits, downturns in the housing market, the
ability to maintain effective internal controls, compliance with
governmental regulations, increased legislative and regulatory
scrutiny of the financial services industry, changes in federal,
state or local tax laws and international trade agreements,
volatility in the market price of its publicly traded securities,
inflation risks, cybersecurity risks, cyber incidents, shareholder
activism efforts, conflicts of interest, risks related to its
organizational structure including operating through its Operating
Partnership and its UPREIT structure, as well as other risks listed
from time to time in the company's SEC filings, including but not
limited to, the company's annual and quarterly reports.
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SOURCE Forest City Realty Trust, Inc.
