NEW YORK, April 12, 2024 /PRNewswire/ — Bluerock Homes Trust, Inc. (NYSE American: BHM) (the “Company”) today announced that its Board of Directors has authorized and the Company has declared monthly cash dividends on the Company’s Series A Redeemable Preferred Stock (the “Series A Preferred Stock”) for the second quarter of 2024, equal to a quarterly rate of $0.375 per share (the “Series A Preferred Dividends”).
The Series A Preferred Dividends will be payable in cash as follows: accrued but unpaid dividends of $0.125 per share to be paid on Friday, May 3, 2024 to Series A Preferred stockholders of record as of Thursday, April 25, 2024; $0.125 per share to be paid on Wednesday, June 5, 2024 to Series A Preferred stockholders of record as of Friday, May 24, 2024; and $0.125 per share to be paid on Friday, July 5, 2024 to Series A Preferred stockholders of record as of Tuesday, June 25, 2024. Newly-issued shares of Series A Preferred Stock held for only a portion of each applicable monthly dividend period will receive a prorated Series A Preferred Dividend based on the actual number of days in the applicable dividend period during which each such share of Series A Preferred Stock was outstanding, as permitted under the Articles Supplementary to the Company’s charter dated March 14, 2023.
The Board of Directors has previously authorized, and in connection with the Series A Preferred Dividends the Company has also declared, special dividends on the Series A Preferred Stock for the second quarter of 2024 (the “Series A Preferred Special Dividends”), which will be seamlessly aggregated with the regular monthly Series A Preferred Dividends so as to effect a dividend rate of 2.0% over the 10-Year Daily Treasury Par Yield Curve Rate (“10-Year Treasury Rate”) with a floor of 6.0% annually, calculated and paid monthly. The Series A Preferred Special Dividends will be payable to the extent the average 10-Year Treasury Rate exceeds 4.0%.
About Bluerock Homes Trust, Inc.
Bluerock Homes Trust, Inc. (NYSE American: BHM), headquartered in New York, New York, is an externally managed REIT that owns and operates high-quality single-family properties located in attractive markets with a focus on the knowledge-economy and high quality of life regions of the Sunbelt and high growth areas of the Western United States. BHM’s principal objective is to generate attractive risk-adjusted investment returns by assembling a portfolio of pre-existing single-family rental homes and developing build-to-rent communities. BHM properties are located across a diverse group of growth markets and will seek to target a growing pool of middle-market renters seeking the single-family lifestyle without the upfront and ongoing investments associated with home ownership. For more information, please visit bluerockhomes.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K filed by the Company with the U.S. Securities and Exchange Commission (“SEC”) on March 12, 2024, and subsequent filings by the Company with the SEC. We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995.
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SOURCE Bluerock Homes Trust, Inc.
