GHI - Greystone Housing Impact Investors LP Announces Regular Quarterly Cash Distribution and Supplemental BUCs Distribution | Benzinga
OMAHA, Neb., Sept. 13, 2023 (GLOBE NEWSWIRE) -- Greystone Housing Impact Investors LP (NYSE:GHI) (the "Partnership") announced that the Board of Managers of Greystone AF Manager LLC ("Greystone Manager") declared a distribution to the Partnership's Beneficial Unit Certificate ("BUC") holders of $0.44 per BUC. The distribution consists of a regular quarterly cash distribution of $0.37 per BUC plus a supplemental distribution payable in the form of additional BUCs equal in value to $0.07 per BUC. The supplemental distribution will be paid at a ratio of 0.00418 BUCs for each issued and outstanding BUC as of the record date, which represents an amount per BUC based on the closing price of the BUCs on the New York Stock Exchange on September 12, 2023 of $16.73 per BUC. No fractional BUCs will be issued in connection with the supplemental BUCs distribution, as all fractional BUCs resulting from the distribution will receive cash for such fraction based on the market value of the BUCs on the record date. The Partnership expects to issue an aggregate of approximately 95,000 BUCs for the supplemental BUCs distribution.
The cash distribution and supplemental distribution will be paid on October 31, 2023 to all BUC holders of record as of the close of trading on September 29, 2023. The BUCs will trade ex-distribution as of September 28, 2023.
While the Board has not yet declared any distributions for subsequent quarters, the Board currently intends to declare additional supplemental distributions of $0.07 per BUC payable in the form of additional BUCs during the fourth quarter of 2023 and the first quarter of 2024. Both the current and expected future supplemental distributions are a result of the Partnership's expectation of strong operating results for the full 2023 fiscal year which are anticipated to permit the Partnership to make distributions to BUC holders in excess of its regular cash distributions. The payment of the supplemental distributions in the form of BUCs allows the Partnership to retain additional capital to fund future investment opportunities which the Partnership and the Board believe will accrue to the benefit of BUC holders.
"The Board's intention to pay current and future supplemental distributions demonstrates its objective of consistently distributing Partnership earnings to our BUC holders," said Kenneth C. Rogozinski, Chief Executive Officer of the Partnership. "The payment of the current and future supplemental distributions in the form of additional BUCs will allow BUC holders to benefit from our deployment of the retained capital into accretive ...