Washington Prime cuts dividend to fund redevelopment projects [Seeking Alpha]
Washington Prime Group Inc. (WPG)
Last washington prime group inc. earnings: 2/26 05:54 pm
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investor.washingtonprime.com
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Source: Seeking Alpha
Financials | On the Move dividends Washington Prime cuts dividend to fund redevelopment projects Feb. 27, 2020 9:50 AM ET Washington Prime Group Inc. (WPG) Liz Kiesche Washington Prime Group (NYSE: jumps 2.4% its quarterly dividend The lower dividend will increase cash availability by almost $110M for 2020. Declares quarterly cash dividend of 12.5 cents per share vs. 25 cents in the prior quarter; dividend is payable on March 16, 2020 to shareholders and operating partnership unit holders of record on March 9, 2020. WPG says it was in compliance with all of its unsecured debt covenants at the end of 2019, and based upon current projections, anticipates remaining in compliance through 2020. This contrasts with Pennsylvania REIT, which has maintained its 21 cents-per-share dividend, but said on Tuesday it expects that it won't meet Introduces guidance for 2020: Sees FFO per share of 99 cents-$1.07 vs. $1.18 in 2019. Sees Q1 FFO per share of 20 cents-24 cents. Maintains outlook for 20
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