First Real Estate Investment Trust of New Jersey Declares Quarterly and Special Dividend

On October 28, 2024, First Real Estate Investment Trust of New Jersey, Inc. (FREIT) made an announcement regarding dividends. The Board of Directors of the Trust declared a dividend for the fourth quarter of Fiscal 2024, amounting to $0.12 per share on the Common Stock of the Trust. This decision was based on FREIT’s operating results for the entire fiscal year. Additionally, the Board of Directors declared a special dividend from cash reserves, totaling $0.58 per share on the Common Stock of the Trust.

The total dividend per share on the Common Stock of the Trust stands at $0.70, and it is scheduled to be paid on December 13, 2024, to shareholders of record as of the close of business on November 29, 2024. This latest dividend declaration brings the total dividends announced for Fiscal 2024 to $0.85 per share on the Common Stock of the Trust. It was highlighted by the Board of Directors that they will assess the dividend on a quarterly basis, with future dividend declarations uncertain. Moreover, the amount declared on October 28, 2024, may not necessarily reflect the dividends that could be declared going forward.

The press release also contained a cautionary statement emphasizing the forward-looking nature of the information shared. Market and economic conditions, lease-up periods longer than expected, or tenant challenges in rent payments could potentially impact actual results contrary to the forward-looking statements.

First Real Estate Investment Trust of New Jersey, Inc., a Real Estate Investment Trust established in 1961 and publicly traded on the OTC Pink Market under the symbol FREVS, holds a portfolio of residential and commercial properties primarily situated in New Jersey and New York, with a notable concentration in northern New Jersey.

For further inquiries, individuals can reach out to Stockholder Relations at (201) 488-6400 or visit the company website at www.freitnj.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read First Real Estate Investment Trust of New Jersey’s 8K filing here.

First Real Estate Investment Trust of New Jersey Company Profile

First Real Estate Investment Trust of New Jersey, Inc is a publicly traded (over-the-counter symbol FREVS) REIT organized in 1961. Its portfolio of residential and commercial properties are located in New Jersey and New York, with the largest concentration in northern New Jersey.