Retail Value Inc. announced that the company's board of directors declared a special cash distribution on the company's common shares of $1.16 per common share payable on July 27, 2022, to shareholders of record at the close of business on July 12, 2022. The distribution was funded primarily with collections of accounts receivable and approximately $19.5 million previously held in reserve for potential claims by purchasers under property sale agreements which did not materialize prior to the expiration of their general survival periods. Based upon current year taxable income projections to date, approximately 1% - 2% of the total 2022 special distributions is expected to be considered a taxable dividend.

The company expects that the ex-dividend date applicable to the special cash dividend will be July 28, 2022.