CCG Announces Increase in Common Stock Dividend & Declares 1Q13 Dividends
CHARLOTTE, N.C. -- January 29, 2013
Campus Crest Communities, Inc. (NYSE: CCG) announced today that its Board of
Directors approved an increase in the Company's annual common stock dividend
from the current annual rate of $0.64 per share to $0.66 per share,
representing an annualized dividend yield of 5.4% based on the Company's
closing price of $12.27 on January 28, 2013.
This increased dividend, which represents a 3.1% annual increase, commences
with the payment of the first quarter of 2013 common stock dividend, payable
on April 10, 2013 to all stockholders of record on March 27, 2013, and will
amount to $0.165 per share on a quarterly basis.
The Board of Directors also declared a cash dividend of $0.50 per Series A
Cumulative Redeemable Preferred Share for the first quarter of 2013. The
preferred share dividend is payable on April 15, 2013 to stockholders of
record on March 27, 2013.
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. is a leading developer, builder, owner and
manager of high-quality, residence life focused student housing properties
located close to college campuses in targeted U.S. markets. The Company is a
self-managed, self-administered and vertically-integrated real estate
investment trust which operates all of its properties under The Grove® brand.
The Company owns interests in 39 operating student housing properties
containing approximately 20,884 beds. The Company plans to deliver six
projects containing approximately 3,564 beds in the third quarter of 2013.
Since its inception, the Company has focused on customer service, privacy,
on-site amenities and its proprietary residence life programs to provide
college students across the United States with a higher quality of living.
Additional information can be found on the Company's website at
This press release and other statements and information publicly disseminated
by the Company contain certain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The Company intends such
forward-looking statements to be covered by the safe harbor provisions for
forward-looking statements contained in the Private Securities Litigation
Reform Act of 1995 and includes this statement for purposes of complying with
these safe harbor provisions. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements
by the use of forward-looking terminology such as "may," "will," "should,"
"expects," "intends," "plans," "anticipates," "believes," "estimates,"
"predicts" or "potential" or the negative of these words and phrases or
similar words or phrases which are predictions of or indicate future events or
trends and which do not relate solely to historical matters. You should not
rely on forward-looking statements since they involve known and unknown risks,
uncertainties, assumptions and contingencies, many of which are beyond the
Company's control that may cause actual results to differ significantly from
those expressed in any forward-looking statement. All forward-looking
statements reflect the Company's good faith beliefs, assumptions and
expectations, but they are not guarantees of future performance. Furthermore,
except as otherwise required by federal securities laws, the Company disclaims
any obligation to publicly update or revise any forward-looking statement to
reflect changes in underlying assumptions or factors, new information, data or
methods, future events or other changes. For a further discussion of these and
other factors that could cause the Company's future results to differ
materially from any forward-looking statements, see the risk factors discussed
in the Company's most recent Annual Report on Form 10-K.
Campus Crest Communities, Inc.
Thomas Nielsen, 704-496-2571
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