Federal Realty Investment Trust (NYSE:FRT) announced a 3% increase to its dividend within today’s second quarter earnings release. This marks the 44th consecutive year the real estate investment trust has given its shareholders a raise, by far the longest streak among REITs.
Federal Realty declared a quarterly dividend of $0.69 per share, topping its previous four payouts of $0.67 per share. This is actually the largest dividend hike from the company, percentage-wise, since a 6.6% increase in 2008.
As for its second quarter performance, the company posted funds from operations of $1.02 per share, beating last year’s figure ($0.98 per share) and the consensus analyst view ($1.00 per share).
Shares of FRT closed Wednesday’s session trading at $83.78, where they now carry a 3.29% dividend yield.
Federal Realty’s dividend growth streak is not only the longest among REITs, but it’s also tied for the 22nd best among all publicly-traded companies. The Class B Dividend Dynamo has improved its dividend output every year dating back to 1968.
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