UMH Properties Announces Dividend Increase
UMH Properties, Inc. has recently made headlines with its announcement of a 4.7% increase in the quarterly common stock dividend. This decision, made by the company's Board of Directors, raises the dividend to $0.225 per share from the previous $0.215 per share. Shareholders can anticipate receiving this dividend on June 16, 2025, provided they are on record by May 15, 2025. This adjustment reflects an annual dividend rate of $0.90 per share, a significant aspect for current and potential investors.
Commitment to Shareholders
President and Chief Executive Officer Samuel A. Landy expressed satisfaction with the decision, highlighting that this marks the fifth consecutive annual increase of their common stock dividend. He noted that their revenue growth continues to align with expectations, providing a solid foundation for this increase. As UMH Properties continues to expand its communities and construct new residences, it positions itself for even greater profitability moving forward.
Company Overview
Founded in 1968, UMH Properties, Inc. is a public equity REIT that owns and manages 141 manufactured home communities, comprising around 26,500 developed homesites. Out of these, 10,300 are rental homes with over 1,000 self-storage units available across various states. The strategic diversity of its locations includes areas in New Jersey, New York, and Texas, to name a few. This extensive portfolio showcases UMH's ability to cater to a wide demographic and meet diverse housing needs.
Future Growth Prospects
Amidst the positive dividend news, UMH Properties is not only focused on rewarding its shareholders but also on substantial growth and expansion plans. The company's roadmap includes community expansions and new constructions which are expected to further enhance profits. Their strong balance sheet adds to their capability in considering future acquisitions, making it an exciting time for UMH Properties and its stakeholders.
Contact Information
For additional information or inquiries, individuals can reach out to Nelli Madden at 732-577-9997. Transparency and effective communication with shareholders and the public remain a priority for UMH Properties, reaffirming its commitment to growth and customer satisfaction.
Frequently Asked Questions
What is the new dividend amount announced by UMH Properties?
The new quarterly common stock dividend is set at $0.225 per share, an increase from the previous $0.215.
When will the dividend be paid to shareholders?
Shareholders will receive the dividend on June 16, 2025, if they are on record by May 15, 2025.
Who is the current CEO of UMH Properties?
Samuel A. Landy serves as the President and Chief Executive Officer of UMH Properties, Inc.
How many manufactured home communities does UMH operate?
UMH Properties manages 141 manufactured home communities across various states.
What is the significance of the dividend increase?
This increase reflects UMH Properties’ commitment to shareholder returns and their ongoing revenue growth and expansion plans.
