BRANFORD, Conn., Oct. 27, 2022 — The board of directors of Sachem Capital Corp. (NYSE : SACH) approved and declared a quarterly dividend of $0.13 per share, which will be paid to shareholders on November 7, 2022, at the end of trading on the NYSE American. The payment date for the dividend is November 14, 2022.
About Sachem Capital Corp.
Sachem Capital Corp. is an industry leader in first mortgage loan origination, underwriting, funding, servicing, and portfolio management. It provides real estate investors with short-term (three years or less), secured, non-banking loans (sometimes known as “hard money” loans) to pay for the purchase, development, rehabilitation, or improvement of properties, primarily in Connecticut. Owner-occupants are not eligible for loans from the company. The company uses a conservative loan-to-value ratio as its main underwriting criterion. The homes or businesses that serve as the collateral for the company’s loans are frequently held for investment or resale. A first mortgage lien on real estate is used to secure each loan. Each loan is furthermore personally guaranteed by the borrower’s principal(s), whose guarantee may be collaterally secured by a pledge of the guarantor’s ownership stake in the borrower. In addition to its financial activities, the corporation also undertakes opportunistic real estate purchases. The business has chosen to be taxed as a real estate investment trust (REIT) starting with its 2017 tax year because it believes it meets the requirements to be one for federal income tax purposes.
Forward-looking statements can be found in this press release. All comments in this press release that are not statements of historical fact, including those about our future operations, financial situation, strategy, and objectives, as well as our expectations for such activities, are forward-looking statements. Forward-looking statements are those that include words like “anticipate,” “estimate,” “expect,” “project,” “plan,” “seek,” “intend,” “believe,” “may,” “might,” “will,” “should,” “could,” “likely,” “continue,” “design,” the negative of these phrases, and other words and terms with similar connotations. These forward-looking statements are largely based on our current assumptions and predictions of upcoming developments and trends that may impact our operations, strategy, financial situation, goals, and liquidity requirements. These predictions are based on several assumptions, risks, and other factors detailed in our Annual Report on Form 10-K for 2021, which was submitted to the U.S. Securities and Exchange Commission on March 31, 2022. Our Quarterly Reports on Form 10-Q have since amended this report.
The forward-looking events and circumstances referenced in this news release may not materialize, and actual results may differ materially and negatively from those anticipated or implied in the forward-looking statements due to various risks, uncertainties, and assumptions. Forward-looking statements should not be taken as forecasts of the future. Although we think the expectations expressed in the forward-looking statements are realistic, we cannot guarantee future outcomes, activity levels, performances, or accomplishments.
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