Chicago Atlantic Real Estate Finance, Inc. Declares Special Cash Dividend, Payable on January 12, 2024
December 18, 2023 at 07:00 am EST
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Chicago Atlantic Real Estate Finance, Inc. declared a special cash dividend of $0.29 per share, which will be included in fiscal year 2023 taxable income for federal income tax purposes. The special dividend is payable on January 12, 2024, to shareholders of record as of the close of business on December 29, 2023.
Chicago Atlantic Real Estate Finance, Inc. is a commercial mortgage real estate investment trust. The Company utilizes real estate, credit, and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States. Its primary investment objective is to provide attractive, risk-adjusted returns for stockholders over time, primarily through consistent current income dividends and other distributions and, secondarily, through capital appreciation. It focuses on achieving this objective by originating, structuring and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio consists primarily of senior loans to state-licensed operators in the cannabis industry. The Company also invests in companies or properties that are not related to the cannabis industry. The Company is externally managed by Chicago Atlantic REIT Manager, LLC.