News Release

DAYTONA BEACH, Fla.--(BUSINESS WIRE)-- Consolidated-Tomoka Land Co. (NYSE MKT: CTO) today announced that the Company’s Board of Directors declared a quarterly dividend of $0.04 per share payable on February 28, 2017 to shareholders of record on February 10, 2017.

Jeffry B. Fuqua, Chairman of the Board, stated, "The Board is pleased that the operating results at Consolidated-Tomoka Land Co. continue to support our dividend tradition that began in 1976. The Board will continue to review its dividend strategy on a regular basis."

In addition, the Company’s Board of Directors has set Wednesday, April 26, 2017 as the date for the Company’s annual meeting of shareholders. The meeting will be held at the LPGA International Golf Club in Daytona Beach, Florida at 2:00 p.m. local time. March 2, 2017 has been set as the record date for shareholders entitled to notice of, and to vote at, the annual meeting.

About Consolidated-Tomoka Land Co.

Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns a portfolio of income investments in diversified markets in the United States including approximately 1.7 million square feet of income properties, as well as approximately 9,800 acres of land in the Daytona Beach area. Visit our website at www.ctlc.com.

We encourage you to review our most recent investor presentations, from our Investor Day on December 2, 2016, and for the Third Quarter 2016 pertaining to the results for the quarter and nine months ended September 30, 2016, available on our website at www.ctlc.com.

SAFE HARBOR

Certain statements contained in this press release (other than statements of historical fact) are forward-looking statements. Words such as “believe,” “estimate,” “expect,” “intend,” “anticipate,” “will,” “could,” “may,” “should,” “plan,” “potential,” “predict,” “forecast,” “project,” and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Although forward-looking statements are made based upon management’s expectations and beliefs concerning future developments and their potential effect upon the Company, a number of factors could cause the Company’s actual results to differ materially from those set forth in the forward-looking statements. Such factors may include the completion of 1031 exchange transactions, the availability of investment properties that meet the Company’s investment goals and criteria, the modification of terms of certain land sales agreements, the acquisition of certain land affiliated with the golf operations, uncertainties associated with obtaining required governmental permits and satisfying other closing conditions, as well as the uncertainties and risk factors discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 as filed with the Securities and Exchange Commission. There can be no assurance that future developments will be in accordance with management’s expectations or that the effect of future developments on the Company will be those anticipated by management.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170126006232/en/

Consolidated-Tomoka Land Co.
Mark E. Patten, 386-944-5643, Facsimile: 386-274-1223
Sr. Vice President and CFO
mpatten@ctlc.com

Source: Consolidated-Tomoka Land Co.