Urban Edge (UE) reinstates dividends for 2021.

Urban Edge Properties (UE) announced that it will reinstate a regular quarterly dividend of $0.15/share commencing with the first quarter of 2021.  "Our improved rent collection rate and recent leasing activity gives us increased confidence to reinstate a quarterly dividend during 2021," said Jeff Olson, Chairman and Chief Executive Officer.  The company noted that the new dividend rate is based on projected taxable income.

UE also announced that it will pay a special dividend of $0.46/share for 2020 resulting from a mortgage modification and related tax gain on the Las Catalinas Mall in Puerto Rico.  The special dividend is payable on January 19, 2021 to shareholders of record on December 31, 2020.

Urban Edge is a community shopping center REIT with a current portfolio of 77 properties centered in the New York Metropolitan region.  As of September 30, 2020, UE had a total market capitalization of approximately $3.0 billion.