Dividend Declaration for Quarter Ending June 30, 2023

AFC Gamma, Inc. (AFCG), a provider of cannabis and real estate loans, provided a comprehensive business update on June 15, 2023. The company declared a quarterly dividend of $0.48 per outstanding share of common stock for the quarter ending June 30, 2023. This dividend will be payable to common stockholders on July 14, 2023, with a record date of June 30, 2023. The quarterly dividend of $0.48 represents an annual run rate of $1.92.

‍

Sustainable Dividend Level and Portfolio Updates

AFC Gamma's management anticipates that the June quarterly dividend reflects a sustainable dividend level based on the current portfolio, assuming no significant non-accruals and without any additional investments. They have taken recent repayments and the cash drag associated with the current liquidity on their balance sheet into account while determining the $0.48 dividend level. The company remains committed to deploying capital into deals with strong risk-adjusted returns in both the cannabis and traditional real estate loan sectors. However, they do expect reduced earnings until the cash is fully deployed and leverage is drawn.