Monday, SITE Centers Corp. (SITC) announced that its Board approved a one-for-four reverse stock split for the company's common shares.
The company, known for owning and managing open-air shopping centers in affluent suburban areas, mentioned that shareholders will receive cash instead of fractional shares as a result of the reverse stock split.
The company anticipates that its common shares will commence trading on a split-adjusted basis on the New York Stock Exchange at the opening of trading on August 19, 2024.
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