Consolidated-Tomoka Land Co. Declares Dividend of $0.01/Share (CTO)

Consolidated-Tomoka Land Co. CTO declared a dividend of $0.01 per share payable on May 27, 2011 to shareholders of record on May 13, 2011. William J. Voges, Chairman of the Board, stated, “The Board remains committed to paying a dividend, and it has determined that based on the Company's current dividend level and the economic outlook, it would be more prudent to pay the dividend on a semi-annual basis rather than quarterly. There will not be a quarterly dividend paid in July and the proposed semi-annual dividend is expected to begin in October 2011. The Board will continue to review its dividend strategy and capital needs on a regular basis.”