REIT Paramount Group Suspends Dividend To 'Fortify' Balance Sheet

Key Takeaways Real estate investment trust Paramount Group on Friday suspended its quarterly dividend to "fortify" its balance sheet and allow for the "utmost financial flexibility." The dividend of $0.035 was set to be paid on Oct. 15. The move came soon after it was reported Paramount is in talks with lenders to sell its Market Center property in San Francisco. Paramount Group (PGRE) shares edged higher Friday as the real estate investment trust (REIT) that specializes in commercial properties suspended i ...