NEW YORK, Dec. 29, 2016 /PRNewswire/ -- NorthStar Realty
Finance Corp. ("NorthStar Realty") (NYSE: NRF) today announced its
Board of Directors has declared a pro rata dividend (the "Pro Rata
Dividend") at the current rate in accordance with the agreement and
plan of merger (the "Merger") among NorthStar Realty, Colony
Capital, Inc. (NYSE: CLNY) and NorthStar Asset Management Group
Inc. (NYSE: NSAM).
The Pro Rata Dividend will be $0.004444 per share of common stock per day,
which is the daily equivalent of the current quarterly dividend
rate of $0.40 per share, and will
accrue from January 1, 2017, up to
and including the closing date of the Merger. The Merger is
expected to close on January 10,
2017, subject to customary closing conditions, and the
dividend will be paid as soon as reasonably practicable following
closing of the Merger to shareholders of record as of January 9, 2017.
About NorthStar Realty Finance Corp.
NorthStar Realty
Finance Corp. is a publicly-traded, diversified commercial real
estate company that is organized as a REIT and is managed by an
affiliate of NorthStar Asset Management Group Inc. (NYSE: NSAM), a
global asset management firm. For more information about NorthStar
Realty Finance Corp., please visit www.nrfc.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication may contain forward-looking
statements within the meaning of the federal securities laws.
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. Forward-looking statements
involve known and unknown risks, uncertainties, assumptions and
contingencies, many of which are beyond our control, and may cause
actual results to differ significantly from those expressed in any
forward-looking statement. Among others, the following
uncertainties and other factors could cause actual results to
differ from those set forth in the forward looking
statements: the failure to receive, on a timely basis or
otherwise, the required approvals by governmental or regulatory
agencies and third parties; the risk that a condition to closing of
the Merger may not be satisfied; each company's ability to
consummate the Merger and the timing of the closing of the Merger;
operating costs and business disruption may be greater than
expected; the company's liquidity and its impact on the timing of
payment of the pro rata dividend; the ability of each company to
retain its senior executives and maintain relationships with
business partners pending consummation of the merger; the ability
to realize substantial efficiencies and synergies as well as
anticipated strategic and financial benefits; and the impact of
legislative, regulatory and competitive changes. The foregoing list
of factors is not exhaustive. Additional information about these
and other factors can be found in each company's reports filed from
time to time with the Securities and Exchange Commission, including
NorthStar Realty's Quarterly Report on Form 10-Q for the quarter
ended June 30, 2016. There can be no
assurance that the Merger will in fact be consummated.
NorthStar Realty expressly disclaims any obligation to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in its expectations with
regard thereto or change in events, conditions or circumstances on
which any statement is based.
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SOURCE NorthStar Realty Finance Corp.