Retail Value Inc (fka RVIC)

[Enterprising Investor]

Retail Value Inc. Declares Special Common Distribution (6/29/22)

BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (“RVI” or the “Company”) today announced that the Company’s Board of Directors declared a special cash distribution on the Company’s common shares of $1.16 per common share payable on July 27, 2022, to shareholders of record at the close of business on July 12, 2022. The distribution was funded primarily with collections of accounts receivable and approximately $19.5 million previously held in reserve for potential claims by purchasers under property sale agreements which did not materialize prior to the expiration of their general survival periods. Based upon current year taxable income projections to date, approximately 1% - 2% of the total 2022 special distributions is expected to be considered a taxable dividend.

The Company expects that the ex-dividend date applicable to the special cash dividend will be July 28, 2022. The ex-dividend date will be determined by the Financial Industry Regulatory Authority (FINRA), and investors are encouraged to refer to the “Daily List” published on FINRA’s website (https://otce.finra.org/otce/dailyList) to confirm the ex-dividend date.

About RVI

RVI is an independent publicly traded company whose common shares trade under the ticker symbol RVIC on the OTC Pink Market. The Company has completed the sale of all of its real estate holdings and is in the process of winding up its business. RVI is managed by one or more subsidiaries of SITE Centers Corp. Additional information about RVI is available at www.retailvalueinc.

https://www.businesswire.com/news/home/20220629005903/en/Retail-Value-Inc.-Declares-Special-Common-Distribution