NEW YORK, Nov. 4, 2019 /PRNewswire/ -- Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) (the "Company") today announced that its Board of Directors has authorized and the Company has declared monthly cash dividends on the Company's Series B Redeemable Preferred Stock (the "Series B Preferred Stock") for each of November and December 2019, equal to a quarterly rate of $15.00 per share (the "Series B Preferred Dividends").
The Series B Preferred Dividends will be payable in cash as follows: $5.00 per share to be paid on Thursday, December 5, 2019 to Series B Preferred stockholders of record as of Monday, November 25, 2019; and $5.00 per share to be paid on Friday, January 3, 2020 to Series B Preferred stockholders of record as of Tuesday, December 24, 2019. Newly-issued shares of Series B Preferred Stock held for only a portion of the applicable monthly dividend period will receive a prorated Series B Preferred Dividend based on the actual number of days in the applicable dividend period during which each such share of Series B Preferred Stock was outstanding, as permitted under the Articles of Amendment to the Company's charter dated October 28, 2019.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through value-add improvements to properties and to operations. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
For more information, please visit our website at: www.bluerockresidential.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 February 27, 2019, 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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