Atlanta, GA -- October 6, 2021 -- InvestorsHub NewsWire
-- UC Asset LP (OTCQX:
UCASU) announces it will hold annual shareholder meeting soon.
Among other topics, UC Asset's management will submit its dividend
plan for shareholders to review and comment.
" Our most recently quarterly report 10-Q showed a 20% organic
growth of net equity over a 12 month period," Says Greg Bankston,
managing general partner of UC Asset. "If that trend may continue,
we will have over $1 million of undistributed profit. It will be to
the best interest of our company to distribute a reasonable amount
of profit as dividend. We plan to distribute a minimum of $0.10 per
share."
However, Bankston adds, that such dividend plan will be subject
to the final results of audited financial reports and other
possible changes of business situations. The bylaw of UC Asset
gives management arbitrary power to withhold dividend distribution
if the management believes it will be better to use those funds for
further investments.
"Our goal is to build a long term investment firm similar to
Warren Buffet's Berkshire Hathaway(NYSE: BRK.A), that investors
will realize their return from appreciation of market value of our
shares, without receiving any cash dividends," Explains Bankston.
"But before the trading volume of our share can support such a
scheme, we will continue to distribute cash dividend when we
believe it is to the best interest of our company."
UC Asset's most recent 10Q shows over $2.7 million cash reserve
by June 30, 2021. In July, the company made an investment of $1.65
million into historic landmark Rufus Rose House. The cash position
remains strong, according to the company's management.
Last week, UC Asset announces that it will expand its investment
in Cannabis properties. The company current holds a $1.2 million
convertible debt investment in a hemp agriculture property.
Management has not disclose how much the Company plans to invest
into Cannabis properties, but claims that cannabis properties,
along with Airbnb-based SHOC properties and historic landmark
properties, will be major building blocks in its portfolio over the
coming years.
The company has not announced a date for annual shareholder
meeting, but says the record date, on which those who hold UCASU
shares will be eligible to attend the meeting, has been set
as September 30.
About UC Asset LP
UC Asset LP is a limited partnership
formed for the purpose of investing in real estate with innovative
strategies, concentrating in metropolitan areas of Atlanta,
GA. For more
information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
For More Information Contact:
Christal Jordan | Executive Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297