BRT Apartments Corp. Announces Initiation of Dividend Reinvestment Plan

GREAT NECK, N.Y., June 15, 2022 (GLOBE NEWSWIRE) -- BRT Apartments Corp. (NYSE:BRT) today announced that its stockholders will have an opportunity to participate in its Dividend Reinvestment Plan (the “Plan”). BRT’s board of directors has adopted the Plan to provide stockholders of record on the applicable record date with the opportunity to designate all or a portion of the cash dividends they are entitled to receive on their shares of common stock for reinvestment in additional shares of the Company’s common stock.

Initially, BRT will issue the shares under the Plan directly at a 3% discount to the trading price of BRT’s common stock, at such price determined pursuant to the Plan and without incurring brokerage fees or commissions. The maximum number of shares of common stock that may be issued under the Plan is 350,000 shares and the Plan will be in effect until suspended or terminated by the board of directors.

Participation in the Plan is optional; stockholders who do not elect to participate in the Plan will receive a cash dividend. Dividends are payable only as and when declared by the board of directors.

As recently announced, on June 8, 2022, the Company’s board of directors declared a cash dividend of $0.25 per share which will be paid on July 8, 2022 to stockholders of record as of the close of business on June 30, 2022. Stockholders must enroll in the Plan by 5:00 pm (ET) on the record date for these dividends to qualify for participation in the Plan.

The Plan will be administered through the Company’s stock transfer agent, American Stock Transfer & Trust Company (“AST”). Stockholders and other persons may obtain enrollment forms by contacting AST at 888-888-0144 or online through www.astfinancial.com. Stockholders may also enroll by completing an enrollment form and mailing it to American Stock Transfer & Trust Company, LLC, P.O. Box 922, Wall Street Station, New York, New York 10269-0560, Attn: Plan Administration Department. To participate in the Plan, for this dividend or for any future dividend, if any, eligible stockholders must complete and submit and an enrollment form before 5:00 pm (ET) on the applicable record date.

Stockholders should review the Plan prospectus prior to enrolling. Copies of the Plan prospectus are available online at AST’s website, https://us.astfinancial.com/InvestOnline/Invest/AllPlan, or by calling AST at 888-888-0144.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities. The offer is being made solely through the Plan prospectus, which was filed with the Securities and Exchange Commission and is available on the Securities and Exchange Commission’s website at www.sec.gov.

Forward Looking Information:

Certain information contained herein is forward looking 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.  BRT intends such forward looking statements to be covered by the safe harbor provisions for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions.  Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “will likely result,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” “apparent,” “experiencing” or similar expressions or variations thereof.  Investors are cautioned not to place undue reliance on any forward-looking statements and to carefully review the sections entitled “Risk Factors,” “Cautionary Statements Regarding Forward Looking Statements,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in BRT’s Annual Report on Form 10-K for the year ended December 31, 2021, and the other reports it files thereafter with the SEC.  You should not rely on forward looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could materially affect actual results, performance or achievements.

About BRT Apartments Corp:

BRT is a real estate investment trust that owns, operates and, to a lesser extent, develops multi-family properties.  Additional information on BRT, its operations and portfolio, is available at BRT’s website at: http://brtapartments.com. For additional information, interested parties are encouraged to review BRT’s Annual Report on Form 10-K for the year ended December 31, 2021 and the other reports it filed thereafter with the Securities and Exchange Commission.

Contact:  Investor Relations

BRT APARTMENTS CORP.
60 Cutter Mill Road
Suite 303
Great Neck, New York 11021
Telephone (516) 466-3100
Telecopier (516) 466-3132
http://brtapartments.com