Jernigan Capital, Inc. Announces Dividend of $0.35 Per Share
MIAMI–(BUSINESS WIRE)–Jernigan Capital, Inc. (NYSE:JCAP) (the “Company”) announced today that on June 3, 2015, the Company’s Board of Directors declared a second quarter dividend of $0.35 per share payable on July 15, 2015 to all stockholders of record on July 1, 2015. This dividend represents an annual distribution rate of 7%, based on the Company’s initial public offering price of $20 per share.
“We are off to a good start in deploying the capital we raised in the IPO, with several loans already closed and a robust pipeline with loans in various stages of completion,” said Dean Jernigan, Chief Executive Officer of the Company. “Our strong start has positioned us to commence the payment of a regular quarterly dividend for the first quarter after our IPO. We want to thank our stockholders for their support and look forward to fulfilling our pledge to position JCAP as the best in class capital provider to the self-storage industry.”
About Jernigan Capital, Inc.
Jernigan Capital is a commercial real estate finance company that provides financing to private developers, owners and operators of self-storage facilities. Jernigan Capital offers financing solutions for the ground-up construction of self-storage facilities or major self-storage redevelopment opportunities, as well as for the acquisition of, refinancing of existing indebtedness on, or recapitalization of stabilized self-storage facilities. Jernigan Capital intends to elect to be taxed as a real estate investment trust and is externally managed by JCap Advisors, LLC.
This press release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For a discussion of potential risks and uncertainties related to the Company, see the information under the heading “Risk Factors” in the prospectus related to the Company’s IPO dated March 26, 2015, filed with the Securities and Exchange Commission (“SEC”) on March 30, 2015, in accordance with Rule 424(b) of the Securities Act of 1933, which is accessible on the SEC’s website at www.sec.gov.