NEW YORK, Dec. 29, 2016 /PRNewswire/ -- NorthStar Realty Finance Corp. ("NorthStar Realty") (NYSE: NRF) today announced its Board of Directors has declared a pro rata dividend (the "Pro Rata Dividend") at the current rate in accordance with the agreement and plan of merger (the "Merger") among NorthStar Realty, Colony Capital, Inc. (NYSE: CLNY) and NorthStar Asset Management Group Inc. (NYSE: NSAM).
The Pro Rata Dividend will be $0.004444 per share of common stock per day, which is the daily equivalent of the current quarterly dividend rate of $0.40 per share, and will accrue from January 1, 2017, up to and including the closing date of the Merger. The Merger is expected to close on January 10, 2017, subject to customary closing conditions, and the dividend will be paid as soon as reasonably practicable following closing of the Merger to shareholders of record as of January 9, 2017.
About NorthStar Realty Finance Corp.
NorthStar Realty Finance Corp. is a publicly-traded, diversified commercial real estate company that is organized as a REIT and is managed by an affiliate of NorthStar Asset Management Group Inc. (NYSE: NSAM), a global asset management firm. For more information about NorthStar Realty Finance Corp., please visit www.nrfc.com.
Cautionary Statement Regarding Forward-Looking Statements
This communication may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond our control, and may cause actual results to differ significantly from those expressed in any forward-looking statement. Among others, the following uncertainties and other factors could cause actual results to differ from those set forth in the forward looking statements: the failure to receive, on a timely basis or otherwise, the required approvals by governmental or regulatory agencies and third parties; the risk that a condition to closing of the Merger may not be satisfied; each company's ability to consummate the Merger and the timing of the closing of the Merger; operating costs and business disruption may be greater than expected; the company's liquidity and its impact on the timing of payment of the pro rata dividend; the ability of each company to retain its senior executives and maintain relationships with business partners pending consummation of the merger; the ability to realize substantial efficiencies and synergies as well as anticipated strategic and financial benefits; and the impact of legislative, regulatory and competitive changes. The foregoing list of factors is not exhaustive. Additional information about these and other factors can be found in each company's reports filed from time to time with the Securities and Exchange Commission, including NorthStar Realty's Quarterly Report on Form 10-Q for the quarter ended June 30, 2016. There can be no assurance that the Merger will in fact be consummated.
NorthStar Realty expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
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SOURCE NorthStar Realty Finance Corp.