NEW YORK--(BUSINESS WIRE)--Empire State Realty Trust, Inc. (NYSE: ESRT) (the “Company”), a leading real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area, today announced that its Board of Directors has declared a dividend of $0.105 per share/unit for the fourth quarter of 2019, payable to holders of the Company’s Class A common stock and Class B common stock and to holders of Empire State Realty OP, L.P.’s (“ESRO”) Series ES, Series 250 and Series 60 operating partnership units (NYSE Arca: ESBA, FISK and OGCP, respectively) and Series PR operating partnership units.
The Board of Directors has declared a dividend of $0.15 per unit for the fourth quarter of 2019, payable to holders of ESRO’s Series 2014 Private Perpetual Preferred Units and a dividend of $0.175 per unit for the fourth quarter of 2019, payable to holders of ESRO’s Series 2019 Private Perpetual Preferred Units.
The dividends will be payable in cash on December 31, 2019 to stockholders and unitholders of record at the close of business on December 23, 2019.
In addition, the Board of Directors reauthorized the repurchase of up to $500 million of the Company’s Class A common stock (“Common Stock”) and ESRO’s Series ES, Series 250 and Series 60 operating partnership units (collectively with the Common Stock, the “Securities”) through the calendar year ended December 31, 2020.
Under the program, the Company may purchase the Securities in accordance with applicable securities laws from time to time in the open market or in privately negotiated transactions. The timing, manner, price and amount of any repurchases will be determined by the Company at its discretion and will be subject to stock price, availability, trading volume and general market conditions. The authorization does not obligate the Company to acquire any particular amount of Securities, and the program may be suspended or discontinued at the Company’s discretion without prior notice.
About Empire State Realty Trust
Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust (REIT), owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the world's most famous building. Headquartered in New York, New York, the Company's office and retail portfolio covers 10.1 million rentable square feet, as of June 30, 2019, consisting of 9.4 million rentable square feet in 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut and two in Westchester County, New York; and approximately 700,000 rentable square feet in the retail portfolio.
This press release contains forward-looking statements within the meaning of the Federal securities laws. You can identify these statements by our use of the words such as "assumes," "believes," "estimates," "expects," "intends," "plans," "projects" or the negative of these words or similar words or expressions that do not relate to historical matters. You should exercise caution in interpreting and relying on forward-looking statements, because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance or achievements. Such factors and risks include, without limitation, a failure of conditions or performance regarding any event or transaction described above, regulatory changes, and other risks and uncertainties described from time to time in the Company’s filings with the SEC, including those set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 under the headings “Risk Factors”. Except as may be required by law, the Company does not undertake a duty to update any forward-looking statement, whether as a result of new information, future events or otherwise.