NEW YORK, Jan. 5, 2016 /PRNewswire/ -- Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (the "Company" or "BRG") has distributed a monthly cash dividend of $0.096667 per share on the Company's Class A and Class B common stock (the "Common Stock Dividend"), as announced earlier in the quarter. In addition, the Company has distributed a pro rata cash dividend on the Company's 8.250% Series A Cumulative Redeemable Preferred Stock (NYSE MKT: BRG-PrA) (the "Series A Preferred Stock," and such dividend, the "Series A Preferred Stock Dividend") for the period from and including the original issue date of October 21, 2015 to and including December 31, 2015, in the amount of $0.4010 per share.
The Common Stock Dividend payments represent an annualized dividend yield of 9.74% based on the closing price of $11.91 for the Company's Class A common stock as of the close of trading on January 4th, 2016. The Series A Preferred Stock Dividend payments represent an annualized dividend yield of 8.17% based on the closing price of $25.25 for the Company's Series A Preferred Stock as of the close of trading on January 4th, 2016. These yields are subject to change.
The Common Stock Dividend payment follows the Company's October 12, 2015 announcement of its declaration of a $0.29 per share quarterly dividend on its Class A and Class B common stock, each payable monthly across the quarter. The Series A Preferred Stock Dividend follows the Company's December 15, 2015 announcement of its declaration of a $0.4010 per share pro rata cash dividend on its Series A Preferred Stock, payable on January 5, 2016. The Company paid the Common Stock Dividend and the Series A Preferred Stock Dividend, respectively, to holders of record of the Company's Class A and Class B common stock and the Series A Preferred Stock, respectively, as of December 24, 2015.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust that focuses on acquiring a diversified portfolio of Class A institutional-quality apartment properties in demographically attractive growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through improvements to operations and properties. BRG generally invests with strategic regional partners, including some of the best-regarded, private owner-operators in the United States, making it possible to operate as a local sharpshooter in each of its markets while enhancing off-market sourcing capabilities. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. For more information, visit our website at: www.bluerockresidential.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the risk factors set forth in Item 1A of the Company's Annual Report on Form 10-K filed by the Company with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2015, and subsequent filings by the Company with the SEC. We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE Bluerock Residential Growth REIT, Inc.