Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 10

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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 joint venture interest, net of cash acquired;

(f)$22.5 million used for additions to rental property, improvements and other costs; and

(g)$5.9 million used for the development of rental property and other related costs.

(3)$435.3 million used in financing activities, consisting primarily of the following:

(a)$322.0 million used for repayments of the revolving credit facility;

(b)$200.0 million used for repayments of the term loan;

(c)$63.7 million used for repayments of mortgages, loans payable and other obligations;

(d)$24.8 million used for payment of common dividends and distributions;

(e)$19.5 million used for distributions to noncontrolling interests;

(f)$4.4 million used for payment for taxes related to the net share settlement of stock compensation awards; and

(g)$201.0 million received from the borrowings from the revolving credit facility.

To maintain its qualification as a REIT under the IRS Code, the General Partner must make annual distributions to its stockholders of at least 90 percent of its REIT taxable income, determined without regard to the dividends paid deduction and by excluding net capital gains. However, any such distributions, whether for federal income tax purposes or otherwise, would be paid out of available cash, including borrowings and other sources, after meeting operating requirements, preferred stock dividends and distributions, and scheduled debt service on the Company’s debt. If and to the extent the Company retains and does not distribute any net capital gains, the General Partner will be required to pay federal, state and local taxes on such net capital gains at the rate applicable to capital gains of a corporation. 

50

The Board of Directors considers a variety of factors when setting the Company's dividends including the Company’s earnings, income tax projections, cash flows, financial condition, capital requirements, debt maturities, the availability of debt and equity capital, applicable REIT and legal restrictions, economic conditions and other factors.

Dividends declared (on a per share basis) for the nine months ended September 30, 2025 were as follows:

Date of DeclarationDate of RecordDate of PaymentDividend DeclaredFebruary 27, 2025March 31, 2025April 10, 2025$0.0800May 28, 2025June 30, 2025July 10, 2025$0.0800August 25, 2025September 30, 2025October 10,