BRANFORD, Conn. - Sachem Capital (NYSE:SACH) Corp. (NYSE American: SACH) today announced that its board of directors has declared a quarterly dividend of $0.11 per share. Shareholders on record by the close of trading on April 9, 2024, will be eligible for the dividend, which is scheduled for payment on April 16, 2024.
Sachem Capital is a mortgage REIT known for providing short-term, secured non-banking loans to real estate investors. These loans are typically backed by first mortgages on residential or commercial real estate. The company's strategy focuses on a conservative loan-to-value ratio, and the loans are often personally guaranteed by the borrower's principal(s). Beyond its lending activities, Sachem Capital also engages in opportunistic real estate purchases.
The declaration of dividends is a regular practice for the company, aiming to provide returns to its investors. Dividends are a portion of a company's earnings distributed to shareholders and can be a sign of a company's financial health and its board's confidence in future earnings.
The forward-looking statements in the press release indicate Sachem Capital's projections and expectations for future operations and financial performance. Still, these statements are subject to risks, uncertainties, and assumptions, as detailed in the company's filings with the U.S. Securities and Exchange Commission, including its 2022 Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
The company cautions that the forward-looking statements may not materialize and that actual results could differ from those anticipated.
This news is based on a press release statement from Sachem Capital Corp . Investors are encouraged to consider the company's public filings for a more comprehensive understanding of its financial position and the risks involved. Sachem Capital has not provided any guidance or expectations for future dividends beyond the current declaration.
InvestingPro Insights
Sachem Capital Corp. has recently caught the attention of investors with its significant dividend yield and notable stock price performance. According to InvestingPro data, the company boasts a striking dividend yield of 9.87% as of the last payout, which is particularly attractive for income-focused investors. This aligns with one of the InvestingPro Tips highlighting that the company pays a significant dividend to shareholders.
Additionally, the company's stock has experienced a substantial price uptick over the last six months, with a 34.58% total return, underscoring the stock's strong performance in the short term. This is further supported by a robust 36.97% one-year price total return, which may interest those looking for growth in addition to income.
Another noteworthy InvestingPro Tip is that Sachem Capital's liquid assets exceed its short-term obligations, indicating a healthy liquidity position that could reassure investors of the company's ability to cover its immediate liabilities.
For those considering an investment in Sachem Capital, InvestingPro provides additional insights and tips that could help in making an informed decision. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a total of 9 InvestingPro Tips for Sachem Capital. These tips offer a deeper analysis of the company's financial health, stock performance, and future prospects.
Investors may also want to note the company's P/E ratio of 9.85, which suggests that the stock is trading at a reasonable valuation relative to its earnings. This could be of particular interest to value-oriented investors looking for potentially undervalued opportunities in the market.
As Sachem Capital continues to navigate the financial landscape, these insights from InvestingPro may prove valuable to both current and potential shareholders in understanding the company's investment appeal.
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