Consolidated-Tomoka Land Co. Declares $0.03 Dividend

  Consolidated-Tomoka Land Co. Declares $0.03 Dividend

Business Wire

DAYTONA BEACH, Fla. -- October 23, 2013

At its regularly scheduled meeting of the Board of Directors held today,
Consolidated-Tomoka Land Co. (NYSE MKT:CTO) declared a semi-annual dividend of
$0.03 per share payable on November 26, 2013 to shareholders of record on
November 8, 2013.

Jeffry B. Fuqua, Chairman of the Board, stated: "The Board is pleased that the
operating results at Consolidated-Tomoka Land Co. supports an increase in the
dividend from the preceding year, continuing our dividend tradition that began
in 1976. The Board will continue to review its dividend strategy on a regular
basis." John P. Albright, President and Chief Executive Officer, noted, “Our
second semi-annual dividend this year maintains the $0.03 per share we paid in
the second quarter, thus putting our full year dividend at $0.06 or 50% higher
than 2012’s full year of $0.04.”

About Consolidated-Tomoka Land Co.

Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate
company, which owns a portfolio of income properties in diversified markets in
the United States as well as over 10,000 acres of land in the Daytona Beach
area. Visit our website at www.ctlc.com.

                                "SAFE HARBOR"

Certain statements contained in this press release (other than statements of
historical fact) are forward-looking statements. The words “believe,”
“estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,”
“should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar
expressions and variations thereof identify certain of such forward-looking
statements, which speak only as of the dates on which they were made.
Forward-looking statements are made based upon management’s expectations and
beliefs concerning future developments and their potential effect upon the
Company. There can be no assurance that future developments will be in
accordance with management’s expectations or that the effect of future
developments on the Company will be those anticipated by management.

Contact:

Consolidated-Tomoka Land Co.
Mark E. Patten, 386-944-5643
Sr. Vice President and CFO
mpatten@ctlc.com
Fax: 386-274-1223