American Residential Properties Declares First Quarterly Cash Dividend
Jun 25, 2015, 08:00 ET
SCOTTSDALE, Ariz., June 25, 2015 /PRNewswire/ -- American Residential Properties, Inc. (NYSE: ARPI) (the "Company") today announced that its Board of Directors has declared the Company's first quarterly cash dividend on its outstanding shares of common stock. A cash dividend of $0.10 per share will be paid on July 15, 2015 to stockholders of record at the close of business on July 6, 2015.
"We are very pleased to report our first quarterly cash dividend of $0.10 per share. This dividend reflects our confidence in the long-term future of the single-family rental business and our ability to produce sustainable and growing cash flows from our operations in this sector," said Stephen Schmitz, CEO of American Residential Properties. "Further, it reaffirms our commitment to continue executing our strategic plan to optimize the cash-generating potential of our portfolio in the best interests of our stockholders."
About American Residential Properties, Inc.
American Residential Properties, Inc. is an internally managed real estate company, organized as a REIT for federal income tax purposes, that acquires, owns and manages single-family homes as rental properties in select communities nationwide. The Company's primary business strategy is to acquire, restore, lease and manage single-family homes as well-maintained investment properties to generate attractive, risk-adjusted returns over the long-term. With a vertically integrated real estate acquisition and management platform incorporating disciplined acquisition criteria, extensive research, seasoned personnel and comprehensive operations, the Company is well-positioned to execute its strategy.
Additional information about American Residential Properties, Inc. can be found on the Company's website at www.amresprop.com.
This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "approximately," "believe," "could," "project," "predict," "forecast," "continue," "plan" or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Examples of forward-looking statements include descriptions of the long-term future of the single-family rental business and our ability to increase cash flows. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, supply and demand in the single-family rental industry and other factors as are described in greater detail in the Company's filings with the Securities and Exchange Commission. All information in this press release is current as of the date of this release. The Company undertakes no obligation to update the statements in this release to conform the statements to actual results or changes in the Company's expectations.
SOURCE American Residential Properties, Inc.
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