06:33 AM EST, 12/17/2024 (MT Newswires) -- Claros Mortgage Trust ( CMTG ) said late Monday its board paused the quarterly common stock dividend starting with Q4 that would have been paid in January.

The decision was made to "preserve capital and enhance financial flexibility for future capital allocation decisions," Chief Executive Richard Mack said Monday.

The company paid out a total dividend of $0.60 per common stock this year, it added.