14 unchanged sentences
These results and our ability to pay distributions will be affected by various factors, including the net interest and other income from our portfolio, our operating expenses and other expenditures and the restrictions and limitations imposed by the New York Business Corporation Law, referred to as the BCL, and any restrictions and/or limitations imposed on us by our creditors.
−Removed: To comply with certain REIT qualification requirements, we will, before the end of any REIT taxable year in which we have accumulated earnings and profits attributable to a non-REIT year, declare a dividend to our shareholders to distribute such accumulated earnings and profits, referred to as a Purging Distribution.
−Removed: As of January 1, 2017, we had no accumulated earnings and profits.
−Removed: The table below sets forth dividends paid to the holders of our Common Shares since we began operating as a REIT.
−Removed: February 27****
−Removed: A portion represents a distribution of 2023 income.
−Removed: A portion represents a distribution of 2022 income.
−Removed: A portion represents a distribution of 2021 income.
−Removed: A portion represents a distribution of 2020 income.
−Removed: A portion represents a distribution of 2019 income.
−Removed: Represents a distribution of 2018 income.
−Removed: *** A portion represents a distribution of 2017 income.
−Removed: **** Represents a distribution of 2017 income.
−Removed: Our ability to pay dividends, the amount of the dividend and the frequency at which we will pay dividends is subject to numerous factors, many of which are discussed elsewhere herein including under the caption “Risk Factors.” These factors include the following:
−Removed: ● how quickly we can deploy the net proceeds from the sale of equity and debt securities to make new loans;
−Removed: ● our ability to increase the interest rate on our loans;
−Removed: ● our ability to manage and control our operating and administrative expenses, particularly those relating to our status as a public reporting REIT;
−Removed: ● defaults by our borrowers;
−Removed: ● the rate of prepayments on our outstanding loans and our ability to reinvest those payments in new loans;
−Removed: ● regional and national economic conditions;
−Removed: ● competition from banks and other financing sources;
−Removed: ● our cash flow from operations;
−Removed: ● unanticipated developments, write-offs or liabilities;
−Removed: ● restrictions and limitations imposed by the BCL;
−Removed: ● restrictions in our existing and future credit facilities.
−Removed: For information regarding securities authorized under the equity compensation plan, see Item 12.
−Removed: Stock Repurchase Plan
−Removed: In October 2022, the Board adopted a stock repurchase plan (the “Repurchase Program”), which it then extended in October 2023 so that it now continues through October 9, 2024.
−Removed: Under the Repurchase Program, we may repurchase up to an aggregate of $7,500,000 of our Common Shares.
−Removed: Share repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market in accordance with applicable federal securities laws, including Rule 10b-18 and 10b5-1 of the Exchange Act.
−Removed: Ladenburg Thalmann & Co.
−Removed: is acting as our exclusive purchasing agent under the Repurchase Program.
−Removed: No repurchases were made under the Repurchase Program during 2023 and through the date of this filing.
+Added: Issuer Purchases of Equity Securities
+Added: For an overview of our stock repurchase program and shares repurchased during the years ended December 31, 2024 and 2023, see Note 16 – Equity.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.