The board also said it would be paying quarterly dividends on two classes of preferred stock as follows:
- $0.50 per share for its 8% Series A cumulative redeemable preferred stock
- $0.4296875 per share for its 6.875% Series C cumulative redeemable preferred stock
Both preferred dividends will be paid October 15 to holders of record on October 5.
The board of directors said the regular quarterly dividend is payable on October 31 to holders of record at the close of business on October 17. The regular dividend payment equates to a $1.44-per-share annual dividend, yielding 3.1% based on the closing price today of Saul Centers' stock.