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Name Symbol Market Type
UC Asset Limited Partnership (QX) USOTC:UCASU OTCMarkets Trust
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.03 -1.55% 1.90 1.55 1.90 1.90 1.90 1.90 215 15:41:46

UCASU to discuss $0.10 per share dividend on Nov 18 shareholder meeting

18/10/2021 2:30pm

InvestorsHub NewsWire


Atlanta, GA -- October 18, 2021 -- InvestorsHub NewsWire -- UC Asset LP (OTCQX: UCASU) announces it will hold annual shareholder meeting on November 18, 2021, at 9:00 am eastern time. Due to COVID pandemic, this annual meeting will be held virtually as a Zoom meeting.

Among other topics, UC Asset's management will submit its 2021 dividend plan for shareholders to review and comment. Any persons who hold UC Asset' shares by the end of the last trading day of the year of 2021 will be eligible to receive dividends, if any. 

" Our most recent quarterly report 10-Q showed a 20% organic growth of net equity over a 12 month period," Says Greg Bankston, managing general partner of UC Asset. "If that trend may continue, we will have over $1 million of undistributed profit. It will be to the best interest of our company to distribute a reasonable amount of investment gain as dividend. We plan to distribute a minimum of $0.10 per share."

However, Bankston adds, that such dividend plan will be subject to the final results of audited financial reports and other possible changes of business situations. And holders of preferred shares are entitled to receive preferred dividends before common shareholders. Further, the bylaw of UC Asset gives management arbitrary power to withhold dividend distribution if the management believes it will be better to use those funds for further investments.

"Our goal is to build a long term investment firm similar to Warren Buffet's Berkshire Hathaway (NYSE: BRK.A), that investors will realize their return from appreciation of market value of our shares, without receiving any cash dividends," Explains Bankston. "But before the trading volume of our share can support such a scheme, we will continue to distribute cash dividend when we believe it is to the best interest of our company."

UC Asset management will also discuss its business strategy on its annual meeting. In late September, UC Asset announced that it would expand its investment in cannabis properties, as part of its effort to build "the most innovative portfolio in real estate". According to the company's announcement, the "most innovative portfolio in real estate" would consist of three major parts, which are cannabis properties, Airbnb-based SHOC properties and historic landmarks. More details about these investment strategies are expected to be disclosed on the annual meeting. 

Record date of this year's annual meeting is set as September 30, 2021.  Any persons who held shares on and by the end of the record date will be eligible to attend the annual shareholder meeting. The company will send out both electronic and paper invitations to eligible shareholders, except for objecting beneficial owners, in the coming weeks.

 

About UC Asset LP

UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA.  For more information about UC Asset, please visit: www.ucasset.com

 

Disclaimer: 

This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.

 

For More Information Contact:

Christal Jordan | Executive Director, UC Asset LP

cjordan@ucasset.com | 678-499-0297

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