Consolidated-Tomoka Land Co. Declares Dividend

• Press Release
• Source: Consolidated-Tomoka Land Co.
• On 3:06 pm EDT, Thursday October 29, 2009

DAYTONA BEACH, Fla., Oct. 29 /PRNewswire-FirstCall/ -- At its regular Board of Directors' meeting on October 28, 2009, Consolidated-Tomoka Land Co. (NYSE Amex: CTO) declared a dividend of $.05 per share payable on November 30, 2009, to shareholders of record on November 12, 2009.

William J. Voges, Chairman of the Board, stated, "We continue to recognize the importance of providing a quarterly dividend to our shareholders and are proud to have been able to maintain that commitment during the recent downturn in the real estate sector and the economy at large. The Board of Directors will carefully monitor the national and local economic conditions and balance the Company's capital needs, against our desire to maintain the quarterly dividend at or near its current level."

Consolidated-Tomoka Land Co. is a Florida-based company primarily engaged in converting Company owned agricultural lands into a portfolio of net lease income properties strategically located in the Southeast, through the efficient utilization of 1031 tax-deferred exchanges. The Company has low long-term debt and generates over $9 million in annual before tax cash flow from its real estate portfolio. The Company also engages in selective self-development of targeted income properties. The Company's adopted strategy is designed to provide the financial strength and cash flow to weather difficult real estate cycles. Visit our website at www.ctlc.com.

"Safe Harbor"

Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. The words "believe," "estimate," "expect," "intend," "anticipate," "will," "could," "may," "should," "plan," "potential," "predict," "forecast," "project," and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Forward-looking statements are made based upon management's expectations and beliefs concerning future developments and their potential effect upon the Company. There can be no assurance that future developments will be in accordance with management's expectations or that the effect of future developments on the Company will be those anticipated by management.

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