New York REIT, Inc. Clarifies Ex-Dividend Date For Cash Liquidating Distribution

NEW YORK, Nov. 14, 2017 /PRNewswire/ -- New York REIT, Inc. (NYSE: NYRT) (the "Company" or "NYRT"), which is liquidating and winding down pursuant to a plan of liquidation, today clarified the date on which the Company's common stock, par value $0.01 per share (the "Shares"), will trade ex-dividend of the previously announced cash liquidating distribution of $2.07 per share.  As previously announced, the cash liquidating distribution will be payable on November 28, 2017 to shareholders of record on November 20, 2017.

Investors should note that the ex-dividend date is set by the NYSE.  Under the rules of the NYSE, when a distribution is declared in a per share amount that exceeds 25% of a company's stock price, the date on which that company's shares will begin to trade without the dividend, or ex-dividend, is the first business day following the payment date.  Accordingly, the NYSE has informed the Company that it has set an ex-dividend date for the cash liquidating distribution of November 29, 2017.  Consequently, if a shareholder as of the record date sells shares at any time prior to the ex-dividend date of November 29, 2017, they will not receive the cash liquidating distribution. 

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About NYRT

NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value. For more information, please visit our website at www.nyrt.com.

Forward-Looking Statements   

The statements in this release that are not historical facts may be forward-looking statements. These forward-looking statements involve substantial risks and uncertainties. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company makes. Forward-looking statements may include, but are not limited to, statements regarding stockholder liquidity and investment value and returns. The words "anticipates," "believes," "expects," "estimates," "projects," "plans," "intends," "may," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.  Factors that might cause such differences include, but are not limited to: the purchaser consummating the transactions contemplated by the purchase agreement; and other factors, many of which are beyond the Company's control, including other factors included in the Company's reports filed with the Securities and Exchange Commission ("SEC"), particularly in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's latest Annual Report on Form 10-K for the year ended December 31, 2016, filed with the SEC on March 1, 2017 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2017 filed with the SEC on November 9, 2017, as such Risk Factors may be updated from time to time in subsequent reports. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

Contacts  

Wendy Silverstein, Chief Executive Officer
New York REIT, Inc.
[email protected]
(617) 570-4750 

John Garilli, Chief Financial Officer
New York REIT, Inc.
[email protected]
(617) 570-4750

Jonathan Keehner                
Mahmoud Siddig                    
Joele Frank, Wilkinson Brimmer Katcher   
[email protected] 
[email protected]
(212) 355-4449                             

SOURCE New York REIT, Inc.

Related Links

http://www.nyrt.com