Phillips Edison & Company Boosts Monthly Dividends to $0.1025
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Phillips Edison & Company Increases Monthly Dividend Distribution
Phillips Edison & Company, Inc. (NASDAQ: PECO), recognized as one of the leading owners and operators of grocery-anchored neighborhood shopping centers, has announced an exciting development that will benefit its common stockholders. The company has revealed a 5.1% increase in its monthly dividend distribution, now set at $0.1025 per common share, starting from the upcoming distributions on October 1 and November 1.
Details of the Dividend Announcement
This increase comes after a thorough review and was approved by the Board of Directors. Shareholders of record on September 16 and October 15 will be eligible to receive these higher dividend payments. This new annualized dividend rate of $1.23 marks a notable jump from the previous $1.17 per share, reflecting the company's ongoing commitment to returning value to its investors.
Supporting Cash Flow Growth
Jeff Edison, the Chairman and CEO of PECO, emphasized the positive trend in the company’s operational performance and cash flow growth as key contributors to this dividend increase. He highlighted the strategic focus of owning high-quality, grocery-anchored shopping centers as a significant factor in the company’s continuing success. The strong performance at the property level and advantages offered by the suburban markets significantly bolster PECO’s operational results.
Performance and Growth Strategy
With its rich history since its inception in 1991, PECO has cultivated a robust operating platform characterized by a vast portfolio of over 300 shopping centers, delivering essential goods and services to communities across the United States. The company's renowned grocery anchors, such as Kroger, Publix, Albertsons, and Ahold Delhaize, have been integral to its success, helping it to secure a stable tenant mix and maintain high occupancy rates.
Community Engagement and Future Outlook
PECO’s ongoing mission is to enhance community experiences through well-managed, grocery-anchored shopping centers. The company’s focus on creating omni-channel shopping experiences positions it well for continued success, fostering strong community relationships along the way. As PECO looks to the future, its leadership remains dedicated to providing consistent dividend growth and overall shareholder value.
Investor Relations and Company Outreach
For those interested in learning more about PECO and its operations, the company actively engages with its investors through various channels, which include an informative investor website. Here, stakeholders can find key updates about the company's performance and strategic initiatives.
Contact Information for Investors
For additional inquiries, Kimberly Green, the Head of Investor Relations, is available. She can be contacted at (513) 692-3399 or via email at kgreen@phillipsedison.com.
Frequently Asked Questions
What is the new monthly dividend amount for PECO?
Phillips Edison & Company has increased its monthly dividend to $0.1025 per share.
Who qualifies for the dividend distribution?
Shareholders of record as of September 16 and October 15, 2024, will be eligible for the dividend payment.
What has driven this increase in dividends?
The increase is largely attributed to the company's strong cash flow growth and effective operating performance.
How does PECO support community engagement?
PECO focuses on enhancing community experiences through well-managed shopping centers, fostering strong relationships within its operational areas.
Who can I contact for investor relations inquiries?
Kimberly Green, Head of Investor Relations, can be reached at (513) 692-3399 or kgreen@phillipsedison.com.
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