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Several companies have recently raised their dividends, boosting investor confidence in a month marked by economic uncertainty as the US presidential election takes center stage.
Dividend increases indicate a company’s financial health and reward long-term shareholders with higher dividend income.
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Let’s take a look at two real estate investment trusts (REITs) and one oil giant that just increased their dividends, reinforcing their commitment to returning value to investors.
Kimco Real Estate Corp. (NYSE:KIM) is one of the largest owners and operators of premium outdoor shopping centers and mixed-use properties in the United States. As of September 30, it owned interests in 567 properties totaling approximately 101 million square feet of gross leasable space.
On October 31, Kimco announced a 4.2% dividend increase. It now pays a quarterly dividend of $0.25 per share, resulting in an annualized dividend of $1.00 per share and a 4.1% yield on the stock at the time of writing.
Kimco has delivered steady dividend increases for its shareholders in recent years. The 4.3% dividend increase in October 2023 puts the company on track for 2024, the third consecutive year it has increased its annual dividend payout, and the just-announced increase puts it on track for 2024, the fourth straight year of an increase .
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Simon Real Estate Group (NYSE:SPG) owns and manages premier retail, dining, entertainment and mixed-use properties in North America, Asia and Europe. As of September 30, the portfolio consisted of ownership interests in 231 properties covering approximately 184 million square feet.
On November 1, Simon announced a 2.4% dividend increase. It now pays a quarterly dividend of $2.10 per share, resulting in an annualized dividend of $8.40 per share and a 4.9% yield on the stock at the time of writing.
Simon Property has increased its dividend noticeably recently. It has now raised its dividend twelve times since the start of 2021, including increases for four consecutive quarters, putting it on track for 2024, the third year in a row in which it has increased its annual dividend payment, and on track for 2025, the fourth year in a row with an increase.
