ARCP Gets Extension to Revise Earnings, Holds Back Dividend
This article is for subscribers only.
American Realty Capital Properties Inc. won more time from lenders to revise some inaccurate financial statements and said it won’t pay a dividend until the reports are completed.
ARCP, which this month saw the departure of Chairman Nicholas Schorsch and two other executives, plans to review its dividend policy and deliver a common stock payment to investors that’s “in line with its industry peers,” the New York-based company said today in a statement.