MIAMI, March 10,
2025 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) (the "Company") today announced that its
Board of Directors (the "Board") has declared from its treasury a
stock dividend for shareholders of 0.05 shares of common stock for
each outstanding share of the Company's common stock held by
shareholders as of the close of business on April 7, 2025. This equates to receiving one (1)
additional share for every twenty (20) shares held, with any
fractional shares to be settled in cash.
"We're pleased to reward our shareholders with this dividend as
we continue executing on our long-term strategy," said David Villarreal, Chief Executive Officer of the
Company.
The stock dividend will be distributed after close of trading on
April 22nd, 2025. Trading is expected
to begin on a stock dividend-adjusted basis at market open on
April 23rd, in 2025. Cash
will be distributed in lieu of fractional shares based on the
opening price of a share of common stock on April 8, 2025.
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses primarily on the
direct acquisition and indirect investment in properties nationally
that will be further developed in the future into green single or
multi-family projects. Additionally, a wholly owned subsidiary of
SG DevCo, Majestic World Holdings LLC, is a prop-tech company
that has created a real estate AI Platform the Company integrates
to strategically increase the margins on homes sold by facilitating
mortgage services and down payment assistance. MyVONIA Innovations
LLC, a wholly own subsidiary, is the owner of MyVONIA which is an
AI-powered personal assistant designed to help simplify daily tasks
and improve productivity for individuals and businesses.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 as amended
and Section 21E of the Securities Exchange Act of 1934 as amended.
All statements other than statements of historical fact are or may
be deemed to be forward-looking statements. In some cases
forward-looking statements can be identified by terminology such as
"may," "should," "potential," "continue," "expects," "anticipates,"
"intends," "plans," "believes," "estimates" and similar expressions
and include statements regarding continuing to execute on the
Company's long-term strategy, the timing of the distribution of the
stock dividend, when trading is expected to begin on a stock
dividend-adjusted basis, using Majestic World Holdings LLC's real
estate AI Platform to strategically increase the margins on homes
sold by facilitating mortgage services and down payment assistance
and MyVONIA simplifying daily tasks and improve productivity for
individuals and businesses.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to execute on
its long-term strategy, the Company's ability to distribute the
stock dividend as planned, the Company's ability to use Majestic
World Holdings LLC's real estate AI Platform to strategically
increase the margins on homes sold by facilitating mortgage
services and down payment assistance, MyVONIA's ability to simplify
daily tasks and improve productivity, and other factors discussed
in the Company's Annual Report on Form 10-K for the year ended
December 31, 2023, and its subsequent
filings with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. All forward-looking statements are qualified in
their entirety by this cautionary statement, and the Company
undertakes no obligation to revise or update this press release to
reflect events or circumstances after the date hereof.
For investor relations and media inquiries, please
contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation
