CIM COMMERCIAL TRUST CORPORATION (NASDAQ:CMCT) Files An 8-K Other EventsItem 8.01 Other Events.
The Board of Directors of CIM Commercial Trust Corporation (the “Company”) announced today that the Initial Dividend (as defined below) for the year 2018 is $21,892,469 (which, based on the number of shares of common stock of the Company, $0.001 par value per share (the “Common Stock”), outstanding as of December18, 2017, would result in a dividend in the amount of $0.50 per share of Common Stock).
The “Initial Dividend” has the meaning set forth in the Articles Supplementary defining the terms of the SeriesL Preferred Stock of the Company, $0.001 par value per share, appearing as Exhibit4.1 to the FormS-11 Registration Statement (333-218019) filed by the Company with the Securities and Exchange Commission on November15, 2017.
Notwithstanding the announcement of the Initial Dividend, other than as previously declared, no dividend on the Common Stock has been or will be declared or paid by the Company without further authorization by the Company’s board of directors or a duly authorized committee thereof. As a result, there can be no assurance of the amount of any future dividend on the Common Stock, whether on an aggregate or per share basis, or of the timing of any future dividend on the Common Stock.