HomeMost PopularInvestingPhillips Edison Increases Monthly Dividend by 4.5% to Benefit Shareholders

Phillips Edison Increases Monthly Dividend by 4.5% to Benefit Shareholders

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Phillips Edison & Company, Inc. (PECO) has announced a 4.5% increase in its monthly cash dividend for shareholders. The dividend will be raised to 9.75 cents per share, up from 9.33 cents per share paid previously. The increased dividend will be paid out in October and November, benefiting common stockholders recorded as of September 15 and October 16, respectively. With this dividend hike, the annual dividend yield for PECO now stands at 3.43%, based on the company’s share price of $34.06 on September 5, 2023.

In the past five years, PECO has raised its dividend three times, resulting in a five-year annualized dividend growth rate of 4.86%. The company’s commitment to strong dividend payouts, even during the pandemic, is a significant draw for real estate investment trust (REIT) investors. To know more about Phillips Edison & Company’s dividend history, click here.

PECO is one of the largest owners and operators of omnichannel grocery-anchored shopping centers in the United States, with a strong presence in the high-growth Sun Belt region. Its centers are anchored by leading grocery retailers like Kroger, Publix, Albertsons, and Ahold Delhaize. Additionally, PECO’s tenant mix includes both national and regional retailers, providing necessity-based goods and services. The company’s robust financial position, lower payout ratio compared to the industry, and solid operating platform indicate that the increased dividend rate is sustainable.

Other Top-Ranked Retail REIT Stocks to Consider

Investors looking for opportunities in the retail REIT sector may also consider Tanger Factory Outlet Centers (SKT), Acadia Realty Trust (AKR), and Saul Centers (BFS). These stocks have a Zacks Rank of 2 and offer potential for growth. To check out the complete list of today’s top-ranked stocks, click here.

Note: Funds from operations (FFO) are used to evaluate the performance of REITs.

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Please note that the views and opinions expressed in this article are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.

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