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Retail Value Inc. Declares 2019 Year-End Common Stock

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Enterprising Investor Member Level  Saturday, 11/09/19 09:16:32 PM
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Retail Value Inc. Declares 2019 Year-End Common Stock Dividend of $2.05 (11/08/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (NYSE: RVI) declared a common stock dividend of $2.05 per share (approximately $39.1 million in the aggregate) on account of annual taxable income generated in Puerto Rico. The dividend is payable on January 8, 2020 to shareholders of record at the close of business on November 26, 2019 and will be subject to a 10% withholding tax.

Similar to the dividend declared in December 2018, the Company has elected to pay the 2019 year-end dividend in a combination of cash and common shares with the cash component not to exceed 20% of the aggregate dividend. The Company expects to apply a significant portion of excess cash to repaying the outstanding mortgage loan when that loan becomes freely pre-payable in April 2020.

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 December 27, December 30 and December 31, 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 5, 2019, and must be received by the Company's transfer agent, Computershare Shareholder Services, by 5:00 p.m. ET on December 26, 2019.

If you have any questions regarding the election form or the election deadline, please call Georgeson LLC, our Information Agent for the election, toll free at 866-856-6388. 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. 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/20191108005481/en/Retail-Declares-2019-Year-End-Common-Stock-Dividend

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