Sachem Capital Corp. Announces Dividend of $0.11 per Share
15 December 2023 - 8:15AM
Sachem Capital Corp. (NYSE American: SACH) announced today that its
board of directors authorized and declared a quarterly dividend of
$0.11 per share to be paid to shareholders of record as of the
close of trading on the NYSE American on December, 29, 2023. The
dividend is payable on January 10, 2024.
About Sachem Capital Corp.Sachem
Capital Corp. is a mortgage REIT that specializes in originating,
underwriting, funding, servicing, and managing a portfolio of loans
secured by first mortgages on real property. It offers short-term
(i.e., three years or less) secured, nonbanking loans to real
estate investors to fund their acquisition, renovation,
development, rehabilitation, or improvement of properties. The
company’s primary underwriting criteria is a conservative loan to
value ratio. The properties securing the loans are generally
classified as residential or commercial real estate and, typically,
are held for resale or investment. Each loan is secured by a first
mortgage lien on real estate and is personally guaranteed by the
principal(s) of the borrower. The company also makes opportunistic
real estate purchases apart from its lending activities.
Forward Looking StatementsThis
press release may contain forward-looking statements. All
statements other than statements of historical facts contained in
this press release, including statements regarding our future
results of operations and financial position, strategy and plans,
and our expectations for future operations, are forward-looking
statements. The words “anticipate,” “estimate,” “expect,”
“project,” “plan,” “seek,” “intend,” “believe,” “may,” “might,”
“will,” “should,” “could,” “likely,” “continue,” “design,” and the
negative of such terms and other words and terms of similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are based primarily on
management’s current expectations and projections about future
events and trends that management believes may affect the company’s
financial condition, results of operations, strategy, short-term
and long-term business operations and objectives and financial
needs. These forward-looking statements are subject to several
risks, uncertainties and assumptions as described in the Annual
Report on Form 10-K for 2022 filed with the U.S. Securities and
Exchange Commission on March 31, 2023, as supplemented by our
subsequently filed Quarterly Reports on Form 10-Q. Because of these
risks, uncertainties and assumptions, the forward-looking events
and circumstances discussed in this press release may not occur,
and actual results could differ materially and adversely from those
anticipated or implied in the forward-looking statements. You
should not rely upon forward-looking statements as predictions of
future events. Although the company believes that the expectations
reflected in the forward-looking statements are reasonable, the
company cannot guarantee future results, level of activity,
performance, or achievements. In addition, neither the company nor
any other person assumes responsibility for the accuracy and
completeness of any of these forward-looking statements. The
company disclaims any duty to update any of these forward-looking
statements. All forward-looking statements attributable to the
company are expressly qualified in their entirety by these
cautionary statements as well as others made in this press release.
You should evaluate all forward-looking statements made by the
company in the context of these risks and uncertainties.
Investors:Sachem CapitalInvestor
RelationsEmail: investors@sachemcapitalcorp.com
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