Business Context and Reporting Period
This Form 8-K is a current report filed by BRT Realty Trust (also referenced as BRT Apartments Corp.) on October 26, 2009. The filing addresses a correction to a previously issued press release regarding a special dividend scheduled for payment on October 30, 2009, to shareholders of record as of September 30, 2009.
Key Financial Metrics
The filing does not provide standard financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on correcting specific figures related to a special dividend distribution.
Material Changes and Corrections
The registrant identified an inadvertent data entry error in the computer program used to calculate the special dividend. The following corrections were made to the previously released information:
- Common Shares Issued: The press release incorrectly stated 2,437,366 shares. The correct number of common shares to be issued is 2,437,352.
- Cash Dividend Per Share: The press release incorrectly stated $0.2317959. The correct cash amount is $0.2268042 per share for shareholders electing cash.
- Stock Dividend Per Share: The press release incorrectly stated $0.9182041. The correct stock value is $0.9231958 per share for shareholders electing cash.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of general business risks. The only contingency noted is the administrative error in the dividend calculation, which has been rectified in this report.
Investor Verification Checklist
- Verify the corrected total number of shares to be issued (2,437,352) against the original press release.
- Confirm the adjusted cash and stock dividend rates ($0.2268042 cash and $0.9231958 stock) for the October 30, 2009 payment.
- Ensure shareholder records reflect the correct entitlement based on the September 30, 2009 record date.