CIM Real Assets & Credit Fund Announces Quarterly Dividend
LOS ANGELES--CIM Real Assets & Credit Fund (the “Fund”) announced today that its Board of Directors has declared a quarterly cash dividend of $0.126 per common share for each of October, November and December 2020, representing an annual dividend rate of 6.0% of NAV (as of September 22, 2020) per share. The dividend will be payable as follows: $0.126 per share to be paid on November 4, 2020 to stockholders of record at the close of business on November 2, 2020; $0.126 per share to be paid on December 3, 2020 to stockholders of record at the close of business on December 1, 2020; and $0.126 per share to be paid on January 6, 2021 to stockholders of record at the close of business on January 4, 2021.
On June 30, 2020, the Fund announced the quarterly dividends for the third quarter. To clarify, the Fund’s September dividend of $0.125 per share will be paid on October 5, 2020 to stockholders of record at the close of business on October 1, 2020. Table below provides a summary of 2020 dividend payments.
|Record Date||Payment Date||Dividend Per Share|
|June 1, 2020||June 3, 2020||$0.125|
|July 1, 2020||July 6, 2020||$0.125|
|August 3, 2020||August 5, 2020||$0.125|
|September 1, 2020||September 3, 2020||$0.125|
|October 1, 2020||October 5, 2020||$0.125|
|November 2, 2020||November 4, 2020||$0.126|
|December 1, 2020||December 3, 2020||$0.126|
|January 4, 2021||January 6, 2021||$0.126|
About CIM Real Assets & Credit Fund (CIM RACR)
CIM RACR (“the Fund”) is a newly organized, non-diversified, closed-end management investment company, registered under the 1940 Act that continuously offers its common shares and is operated as an “interval fund.” The Fund invests across real assets and corporate credit, providing an opportunity to invest alongside CIM Group’s income-oriented strategies. CIM RACR’s investment objective is to generate current income through cash distributions and preserve and protect shareholders’ capital across various market cycles, with a secondary objective of capital appreciation. The Fund is advised by CIM Capital IC Management, LLC and sub-advised by CIM Capital SA Management, LLC and OFS Capital Management, LLC, each of which are investment advisers registered under the Advisers Act and affiliates of CIM Group, LLC. For additional information, please visit www.cimgroup.com.
Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including statements relating management’s belief that CIM RACR will benefit from CIM Group’s combined real assets, credit and transaction experience and deal-sourcing capabilities; the composition of CIM RACR’s portfolio of real assets and corporate credit assets and the potential benefits to investors, which may not be realized; opportunities for individuals to invest alongside institutional partners, and whether those opportunities will align the interests among sponsors, partners and shareholders; and other factors may constitute forward-looking statements for purposes of the safe harbor protection under applicable securities laws. Forward-looking statements can be identified by terminology such as “anticipate,” “believe,” “could,” “could increase the likelihood,” “estimate,” “expect,” “intend,” “is planned,” “may,” “should,” “will,” “will enable,” “would be expected,” “look forward,” “may provide,” “would” or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to in CIM RACR’s Prospectus filed with the Securities and Exchange Commission (the “SEC”) on April 30, 2020 under the section “Risks” as well as other documents that may be filed by CIM RACR from time to time with the SEC. As a result of such risks, uncertainties and factors, actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. CIM RACR is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.