CHARLOTTE, N.C.--(BUSINESS WIRE)--Campus Crest Communities, Inc. (NYSE: CCG) announced that its Board of Directors declared its first quarter of 2014 common stock dividend of $0.165 per share. Based on a closing price of $9.14 on January 27, 2014, the annualized dividend yield is 7.2%. The dividend is payable on April 9, 2014 to stockholders of record as of March 26, 2014.
The Board of Directors also declared a cash dividend of $0.50 per Series A Cumulative Redeemable Preferred Share for the first quarter of 2014. The preferred share dividend is payable on April 15, 2014 to stockholders of record as of March 26, 2014.
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality student housing properties located close to college campuses in targeted markets. Pro forma for the Copper Beech restructure, the Company has ownership interests in 79 student housing properties and over ~43,000 beds across North America, of which 70 are operating and 9 are development or redevelopment properties. The Company is an equity REIT that differentiates itself through its vertical integration and consistent branding across the portfolio through three unique brands targeting different segments of the college student population. The Grove® brand offers more traditional apartment floor plans and focuses on customer service, privacy, on-site amenities and a proprietary residence life program. The Copper Beech brand and townhome product offers more residential-type living to students looking for a larger floor plan with a front door and back porch. The evo brand provides urban students with a luxury student housing option with all the conveniences of city living. Additional information can be found on the Company's website at http://www.campuscrest.com/.
Forward-looking statements involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements. Please refer to the documents filed by Campus Crest Communities, Inc. with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, which identify important risk factors which could cause actual results to differ from those contained in the forward-looking statements.