Summary
American Tower Corporation (AMT) filed an 8-K report on September 12, 2013, primarily to announce a quarterly cash distribution. The company's board of directors declared a dividend of $0.28 per share. This distribution is scheduled to be paid on October 7, 2013, to shareholders of record as of the close of business on September 23, 2013. This announcement is a routine event for income-focused investors, indicating a consistent return of capital. While the amount is modest on a per-share basis, for a real estate investment trust (REIT) like American Tower, such regular dividend payments are a key component of their investment thesis. Investors should note the record and payment dates for dividend eligibility.
Key Highlights
- 1Declaration of a cash distribution of $0.28 per share.
- 2Payment date for the distribution is October 7, 2013.
- 3Record date for dividend eligibility is September 23, 2013.
- 4The press release announcing this distribution is filed as Exhibit 99.1.
- 5The filing is dated September 12, 2013, making it a timely announcement.
- 6Thomas A. Bartlett, EVP, CFO, and Treasurer, signed the filing on behalf of the company.
Frequently Asked Questions
The primary purpose of this 8-K filing is to officially announce that American Tower Corporation's board of directors has declared a quarterly cash distribution of $0.28 per share.
The cash distribution of $0.28 per share is scheduled to be paid on October 7, 2013.
Shareholders who are on record of owning American Tower Corporation common stock at the close of business on September 23, 2013, will be eligible to receive the dividend.
While the dividend amount itself is a regular quarterly payment, for investors focused on income, it signifies consistent capital return. For a company operating as a REIT, regular distributions are a fundamental aspect of their business model and investor appeal.