BUZZ-SITE Centers shares surge; announces special dividend and delisting

October 16 - ** SITE Centers Corp. (SITC.N) shares rose 16% to $3.50, after reaching a nearly four-month high of $3.65 during the session, on track for the largest single-day gain since October 1, 2024.

** The open-air shopping center owner and operator announced on Thursday evening (link) that it had sold its interest in the “Dividend Trust Portfolio” joint venture for approximately $32.4 million.

** SITE also announced a special cash dividend of $3 per share to shareholders of record as of October 27, to be paid on November 5.

** The New York Stock Exchange has notified SITE that the common stock will trade with a “due bill,” representing the right to receive the special dividend from the record date on October 27 up to the close of trading on November 5.

** SITE also announced (link) that the dividend is expected to bring its share price and market capitalization close to triggering NYSE involuntary delisting standards, so the company will voluntarily apply for delisting, which is expected to be completed before the market opens on December 4.

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