OGCP - Empire State Realty Trust launches new repurchase authorization; continues dividend suspension for 1Q21 & 2Q21

Empire State Realty Trust's (ESRT) +2.6% PM, board approved a new repurchase authorization of up to $500M of the company's Class A common stock and Empire State Realty OP (ESBA), L.P.'s "ESRO" (FISK) Series ES, Series 250 and Series 60 operating partnership units (OGCP) during the period from Jan. 1, 2021 through Dec. 31, 2021. This will replace an earlier $500M repurchase authorization of the prior year under which the company repurchased ~$143M at a weighted average price of $8.31 through Dec. 11, 2020.Also, the company will continue with dividend suspension for all holders for 1Q and 2Q of 2021.Separately, for Q4 the company has declared a dividend of $0.15/unit payable to holders of ESRO's Series 2014 Private Perpetual Preferred Units and a dividend of $0.175/unit for holders of ESRO's Series 2019 Private Perpetual Preferred Units.Dividends will be payable in cash on Dec. 31, 2020 to unitholders of record at the close of

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Empire State Realty Trust launches new repurchase authorization; continues dividend suspension for 1Q21 & 2Q21