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Retail Value Inc. Declares 2018 Year-End Common Stock

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Enterprising Investor Member Level  Friday, 12/07/18 05:50:09 PM
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Retail Value Inc. Declares 2018 Year-End Common Stock Dividend of $1.30 (12/07/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (NYSE: RVI) declared a common stock dividend of $1.30 per share (approximately $24.0 million in the aggregate) on account of annual taxable income generated in Puerto Rico. The dividend is payable on January 25, 2019 to shareholders of record at the close of business on December 17, 2018 and will be subject to a 10% withholding tax.

In order to retain capital given the expected pace of spending on repair of hurricane damages in Puerto Rico assets, the Company has elected to pay the dividend in a combination of cash and common shares with the cash component not to exceed 20% of the aggregate dividend.

In accordance with Internal Revenue Service guidance, shareholders may make an election to receive their dividend in all cash or all common shares. Shareholders who do not make an election will be deemed to have elected to receive their dividend in all cash. However, to the extent more than 20% cash is elected by all shareholders in the aggregate, then the cash portion will be prorated. The value of the shares distributed in the dividend will be based upon the volume weighted average trading prices of the Company's common stock on January 16, January 17 and January 18, 2019. Fractional shares of common stock will not be issued; stockholders who would otherwise be entitled to receive fractional shares will receive a cash payment in lieu of fractional shares. Election forms are expected to commence mailing on December 26, 2018, and must be received by the Company's transfer agent, Computershare Shareholder Services, by 5:00 p.m. EDT on January 15, 2019.

If you have any questions regarding the election form or the election deadline, please call Georgeson Inc., our Information Agent for the election, toll free at 866-695-6078. If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend election, please contact such bank, broker or nominee, who will also be responsible for distributing the election form to you and submitting the completed election form on your behalf.

About RVI

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds assets in the continental U.S. and Puerto Rico and is managed by one or more subsidiaries of SITE Centers Corp. (formerly known as DDR Corp.). RVI focuses on realizing value in its business through operations and sales of its assets. Additional information about RVI is available at www.retailvalueinc.com.

https://www.businesswire.com/news/home/20181207005469/en/Retail-Declares-2018-Year-End-Common-Stock-Dividend

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