Retail Value Inc. (RVI) will raise its annual dividend by 57.7 percent to $2.05 per share.

The dividend is payable on January 8, 2020 to shareholders of record at the close of business on November 26, 2019 and will be subject to a 10% withholding tax.

Similar to the dividend declared in December 2018, the Company has elected to pay the 2019 year-end dividend in a combination of cash and common shares with the cash component not to exceed 20% of the aggregate dividend. The Company expects to apply a significant portion of excess cash to repaying the outstanding mortgage loan when that loan becomes freely pre-payable in April 2020.

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds assets in the continental U.S. and Puerto Rico and is managed by one or more subsidiaries of SITE Centers Corp. RVI focuses on realizing value in its business through operations and sales of its assets.