FORT LAUDERDALE, FL--(Marketwired - September 13, 2016) - BFC Financial Corporation ("BFC" or the "Company") (OTCQB: BFCF) (OTCQB: BFCFB) announced today that the Company's Board of Directors has declared a cash dividend payment of $0.005 per share on its Class A and Class B Common Stock, with a payment date of October 20, 2016, to all shareholders of record at the close of trading on September 23, 2016.
As previously announced on June 8, 2016, BFC has indicated its intention, subject to declaration by its Board, to pay regular quarterly dividends of $0.005 per share on its Class A and Class B Common Stock (an aggregate of $0.02 per share annually).
About BFC Financial Corporation:
BFC (OTCQB: BFCF) (OTCQB: BFCFB) is a holding company whose principal holdings include an 81% ownership interest in BBX Capital Corporation (NYSE: BBX) and its indirect ownership interest in Bluegreen Corporation. BFC owns a 54% equity interest in Woodbridge, the parent company of Bluegreen. BBX Capital owns the remaining 46% equity interest in Woodbridge. As of June 30, 2016, BFC had total consolidated assets of $1.4 billion, shareholders' equity attributable to BFC of $385.0 million, and total consolidated equity of $495.9 million. BFC's book value per share at June 30, 2016 was $4.61.
About Bluegreen Corporation:
Founded in 1966 and headquartered in Boca Raton, FL, Bluegreen is a sales, marketing and resort management company, focused on the vacation ownership industry and pursuing a capital-light business strategy. Bluegreen manages, markets and sells the Bluegreen Vacation Club, a flexible, points-based, deeded vacation ownership plan with more than 200,000 owners, 66 owned or managed resorts, and access to more than 4,500 resorts worldwide. Bluegreen also offers a portfolio of fee-based services, including resort management services, financial services, and sales and marketing services, to or on behalf of third parties.
For further information, please visit our family of companies:
BFC Financial Corporation: www.BFCFinancial.com
Bluegreen Corporation: www.BluegreenVacations.com
BBX Capital: www.BBXCapital.com
Certain matters within this press release include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those projected in the forward-looking statements, including but not limited to, the risk that quarterly dividend payments may not be declared in the future or on a regular basis or as anticipated, if at all. For a description of these factors, please review the "Risk Factors" section and other information contained in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission.