Apollo Commercial Real Estate Finance Declares $3.75 Dividend, Proposes Full Liquidation
ARI•Apollo Commercial Real Estate Finance announced a $3.75 per share dividend, payable July 15 to shareholders of record on June 30 and predominantly classified as return of capital. After an extensive strategic review, the board decided that full liquidation, asset disposition and dissolution best serve stockholders, pending approval.
1. Dividend Declaration
On June 15, the board approved a quarterly common stock dividend of $3.75 per share, payable on July 15 to holders of record as of June 30. The dividend will be predominantly classified as a return of capital, reflecting the company’s focus on returning value to shareholders.
2. Board Approves Dissolution Plan
Following an extensive review of strategic alternatives, the board determined that complete liquidation, asset disposition and corporate dissolution are in the best interests of shareholders. Implementation of the plan requires stockholder approval, though the board may modify or pursue alternate transactions if circumstances change.
3. Next Steps for Proxy and Vote
The company will file a preliminary proxy statement with the Securities and Exchange Commission detailing the plan of complete liquidation and upcoming stockholder vote. Stockholders will receive comprehensive materials outlining timelines, distribution of net proceeds and potential amendments to the dissolution plan.
