Phillips Edison & Company Declares Monthly Dividend Distribution

Rhea-AI Summary

Phillips Edison & Company (Nasdaq: PECO), a major owner and operator of grocery-anchored neighborhood shopping centers, has announced a monthly dividend distribution of $0.0975 per share of common stock. This dividend will be payable on September 4, 2024, to stockholders of record as of August 15, 2024. Operating partnership unit holders will receive distributions at the same rate as common stockholders, subject to required tax withholding.

PECO, known for its significant presence in the grocery-anchored retail space, continues to demonstrate its commitment to providing regular returns to its investors through this dividend declaration. This announcement reflects the company's ongoing financial stability and shareholder value creation strategy in the real estate investment trust (REIT) sector.

Positive

• Consistent monthly dividend distribution of $0.0975 per share
• Dividend payable to both common stockholders and operating partnership unit holders

Negative

• None.

CINCINNATI, July 31, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that its Board of Directors declared a monthly dividend distribution of $0.0975 per share of the Company’s common stock payable on September 4, 2024 to stockholders of record as of August 15, 2024. Operating partnership unit holders receive distributions at the same rate as common stockholders, subject to the required tax withholding.

Connect with PECO
For additional information, please visit https://www.phillipsedison.com/

Follow PECO on:
Twitter at https://twitter.com/PhillipsEdison
Facebook at https://www.facebook.com/phillipsedison.co
Instagram at https://www.instagram.com/phillips.edison/; and
Find PECO on LinkedIn at https://www.linkedin.com/company/phillipsedison&company

About Phillips Edison & Company
Phillips Edison & Company, Inc. (“PECO”) is one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons and Ahold Delhaize. As of June 30, 2024, PECO managed 306 shopping centers, including 286 wholly-owned centers comprising 32.6 million square feet across 31 states and 20 shopping centers owned in one institutional joint venture. PECO is focused on creating great omni-channel, grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.

PECO uses, and intends to continue to use, its Investors website, which can be found at https://investors.phillipsedison.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.

Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can generally be identified by the Company’s use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” “seek,” “objective,” “goal,” “strategy,” “plan,” “focus,” “priority,” “should,” “could,” “potential,” “possible,” “look forward,” “optimistic,” or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those projected or anticipated, including the risk factors and other risks and uncertainties described in the Company’s 2023 Annual Report on Form 10-K, filed with the SEC on February 12, 2024, as updated from time to time in the Company’s periodic and/or current reports filed with the SEC, which are accessible on the SEC’s website at www.sec.gov. Except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Investors
Kimberly Green, Head of Investor Relations
(513) 692-3399, kgreen@phillipsedison.com

FAQ

What is the amount of Phillips Edison & Company's (PECO) latest monthly dividend?

Phillips Edison & Company (PECO) has declared a monthly dividend of $0.0975 per share of common stock.

When is the payment date for PECO's recently announced dividend?

The dividend is payable on September 4, 2024.

What is the record date for PECO's September 2024 dividend distribution?

The record date for the dividend is August 15, 2024.

Do PECO's operating partnership unit holders receive the same dividend rate as common stockholders?

Yes, operating partnership unit holders receive distributions at the same rate as common stockholders, subject to required tax withholding.