NEW YORK--(BUSINESS WIRE)--Sep. 13, 2024-- Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors suspended the Company’s regular quarterly dividend that would have otherwise been payable on October 15, 2024. During 2024, Paramount paid three regular quarterly dividends aggregating $0.1050 per share of common stock, which approximates 100% of its estimated 2024 taxable income.

Albert Behler, Chairman, Chief Executive Officer and President of Paramount commented, “The decision by our Board of Directors to suspend our regular quarterly dividend aligns with our commitment to fortify our balance sheet and maintain the utmost financial flexibility.”

About Paramount Group, Inc.

Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

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Wilbur Paes
Chief Operating Officer,
Chief Financial Officer and Treasurer
212-237-3122
ir@pgre.com

Tom Hennessy
Vice President, Investor Relations and
Business Development
212-237-3138
ir@pgre.com

Media:

212-492-2285
pr@pgre.com

Source: Paramount Group, Inc.