NEW
YORK, Nov. 29, 2022 /PRNewswire/ -- iStar Inc.
(NYSE: STAR) announced today the specific terms for its previously
announced special dividend. The company will pay a one-time
non-cash dividend of 6.64 million shares of Safehold (NYSE: SAFE),
which equates to 0.07655 shares of SAFE for each share of iStar
common stock outstanding.
No fractional shares of SAFE common stock will be issued in
connection with the special dividend, and instead Company
stockholders will receive cash in lieu of any fractional
shares.
The dividend will be paid on a pro rata basis on December 7, 2022 to shareholders of record as of
the close of business on December 1,
2022.
* * *
iStar Inc. (NYSE: STAR) is focused on reinventing the ground
lease sector, unlocking value for real estate owners throughout the
country by providing modern, more efficient ground leases on
institutional quality properties. As the founder, investment
manager and largest shareholder of Safehold Inc. (NYSE: SAFE), the
creator of the modern ground lease industry, iStar is using its
national investment platform and its historic strengths in finance
and net lease to expand the use of modern ground leases within the
$7 trillion institutional commercial
real estate market. Recognized as a consistent innovator in the
real estate markets, iStar specializes in identifying and scaling
newly discovered opportunities and has completed more than
$40 billion of transactions over the
past two decades. Additional information on iStar is available on
its website at www.istar.com.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/istar-announces-details-for-its-special-dividend-301688440.html
SOURCE iStar Inc.