PHOENIX, Jan. 30, 2014 /PRNewswire/ -- Cole Real Estate Investments, Inc. ("Cole") (NYSE: COLE) confirmed today that its common stock is not currently being quoted "ex" contingent dividend on the New York Stock Exchange.
As previously announced, on October 22, 2013, American Realty Capital Properties, Inc. ("ARCP") and Cole entered into a definitive merger agreement under which Cole will merge with and into a wholly owned subsidiary of ARCP (the "merger"). Also as previously announced, on November 1, 2013, Cole's board of directors authorized the declaration and payment of a cash dividend on a monthly basis, in the amount of $0.06 per share of common stock (a monthly rate that is equivalent to an annual rate of $0.72 per common share) for stockholders of record as of January 31, 2014, subject to proration if the merger is consummated on or before January 31, 2014.
Shares of Cole common stock will trade "ex" dividend in relation to the January dividend beginning on February 3, 2014, unless the merger is consummated on or before January 31, 2014.Cole also announced today that on January 30, 2014, Cole's board of directors authorized the declaration and payment of a cash dividend on a monthly basis, in the amount of $0.06 per share of common stock (a monthly rate that is equivalent to an annual rate of $0.72 per common share) for stockholders of record as of February 28, 2014, but only if the merger is not consummated on or before January 31, 2014. The February dividend, if any, will be subject to proration if the merger is consummated on or before February 28, 2014 based on the number of days that have elapsed during the month of February through and including the day prior to the day on which the merger is consummated. The February dividend, if any, will be paid on the last business day prior to the closing of the merger to stockholders of record as of the close of business on such day. In addition, shares of Cole common stock will not trade "ex" dividend in relation to the February dividend during the month of February. About Cole Cole is a market-leading net-lease REIT focused on the acquisition, active management, leasing and financing of its high-quality retail, office and industrial portfolio. Visit www.ColeREIT.com to learn more about Cole's comprehensive capabilities, best-in-class management platform, disciplined investment strategy and high-quality real estate portfolio. Forward-Looking Statements Information set forth herein (including information included or incorporated by reference herein) contains "forward-looking statements" (as defined in Section 21E of the Securities Exchange Act of 1934, as amended), which reflect Cole's expectations regarding future events. The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. Such forward-looking statements include, but are not limited to, whether and when the transactions contemplated by the merger agreement will be consummated, Cole's plans, market and other expectations, objectives, intentions, as well as any expectations or projections with respect to the combined company, including regarding future dividends and market valuations, and estimates of growth, including funds from operations and adjusted funds from operations and other statements that are not historical facts.
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