Phillips Edison & Company Increases Monthly Dividend Distribution by 5.1% to $0.1025 Per Common Share
Phillips Edison & Company (Nasdaq: PECO) has announced a 5.1% increase in its monthly dividend distribution. The new rate of $0.1025 per share will be payable on October 1 and November 1, 2024, to stockholders of record as of September 16 and October 15, 2024, respectively. This increase brings the annualized dividend rate to $1.23 per share, up from the previous $1.17 per share.
CEO Jeff Edison attributed this increase to PECO's strong operating performance, growing cash flows, and successful strategy of owning high-quality, grocery-anchored neighborhood shopping centers in suburban markets. The company aims to continue delivering solid earnings growth, market-leading operating metrics, and long-term value creation for its shareholders.
Phillips Edison & Company (Nasdaq: PECO) ha annunciato un aumento del 5,1% nella distribuzione del dividendo mensile. Il nuovo tasso di $0,1025 per azione sarà pagabile il 1° ottobre e il 1° novembre 2024, agli azionisti registrati al 16 settembre e al 15 ottobre 2024, rispettivamente. Questo aumento porta il tasso di dividendo annualizzato a $1,23 per azione, rispetto al precedente $1,17 per azione.
Il CEO Jeff Edison ha attribuito questo aumento alle forti performance operative di PECO, ai flussi di cassa in crescita e alla strategia di successo di possedere centri commerciali di alta qualità ancorati a negozi di alimentari nei mercati suburbani. L'azienda mira a continuare a garantire una solida crescita degli utili, metriche operative leader di mercato e creazione di valore a lungo termine per i suoi azionisti.
Phillips Edison & Company (Nasdaq: PECO) ha anunciado un aumento del 5,1% en su distribución mensual de dividendos. La nueva tasa de $0.1025 por acción se pagará el 1 de octubre y el 1 de noviembre de 2024, a los accionistas registrados hasta el 16 de septiembre y el 15 de octubre de 2024, respectivamente. Este aumento eleva la tasa de dividendo anualizada a $1.23 por acción, por encima del anterior $1.17 por acción.
El CEO Jeff Edison atribuyó este aumento a la fuerte performance operativa de PECO, al crecimiento de los flujos de efectivo y a la exitosa estrategia de poseer centros comerciales de alta calidad anclados en tiendas de abarrotes en mercados suburbanos. La empresa tiene como objetivo seguir logrando un sólido crecimiento de las ganancias, métricas operativas líderes en el mercado y creación de valor a largo plazo para sus accionistas.
필립스 에디슨 & 회사 (Nasdaq: PECO)는 월별 배당금 분배가 5.1% 증가했다고 발표했습니다. 새로운 주당 $0.1025의 배당금은 2024년 10월 1일과 11월 1일에 지급되며, 각각 2024년 9월 16일 및 10월 15일에 등록된 주주에게 지급됩니다. 이 증가는 연간 배당률을 주당 $1.23로 올리며, 이전의 $1.17에서 증가한 것입니다.
CEO 제프 에디슨은 이 증가의 원인을 PECO의 강력한 운영 성과, 증가하는 현금 흐름, 그리고 교외 시장에서 고품질의 식료품 중심 쇼핑 센터를 소유하는 성공적인 전략에 있다고 밝혔습니다. 회사는 주주를 위한 견고한 수익 성장, 시장 선도적인 운영 지표 및 장기 가치 창출을 지속적으로 제공할 계획입니다.
Phillips Edison & Company (Nasdaq: PECO) a annoncé une augmentation de 5,1% de sa distribution de dividendes mensuels. Le nouveau taux de $0,1025 par action sera payable le 1er octobre et le 1er novembre 2024, aux actionnaires inscrits au 16 septembre et au 15 octobre 2024, respectivement. Cette augmentation porte le taux de dividende annualisé à $1,23 par action, contre $1,17 par action précédemment.
Le PDG Jeff Edison a attribué cette augmentation à la solide performance opérationnelle de PECO, à l'augmentation des flux de trésorerie et à la stratégie réussie de posséder des centres commerciaux de haute qualité ancrés par des supermarchés dans les marchés suburbains. L'entreprise vise à continuer de fournir une solide croissance des bénéfices, des indicateurs opérationnels leaders du marché et la création de valeur à long terme pour ses actionnaires.
Phillips Edison & Company (Nasdaq: PECO) hat eine 5,1%ige Erhöhung der monatlichen Dividendenverteilung bekannt gegeben. Der neue Satz von $0,1025 pro Aktie wird am 1. Oktober und 1. November 2024 an die Aktionäre ausgezahlt, die am 16. September und 15. Oktober 2024 registriert sind. Diese Erhöhung bringt die annualisierte Dividende auf $1,23 pro Aktie, von zuvor $1,17 pro Aktie.
CEO Jeff Edison führte diese Erhöhung auf die starke operative Leistung von PECO, wachsende Cashflows und die erfolgreiche Strategie des Besitzes von hochwertigen, supermarktgeführten Nachbarschaftseinkaufszentren in städtischen Märkten zurück. Das Unternehmen strebt an, weiterhin ein solides Umsatzwachstum, marktführende Betriebskennzahlen und die Schaffung von langfristigem Wert für seine Aktionäre zu gewährleisten.
- Increased monthly dividend distribution by 5.1% to $0.1025 per share
- Annualized dividend rate increased to $1.23 per share from $1.17
- Strong operating performance and growing cash flows reported
- Company reports success in its focused strategy of owning grocery-anchored shopping centers
- None.
CINCINNATI, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today announced that its Board of Directors (the “Board”) approved a
The Board approved the distribution at a rate of
Jeff Edison, Chairman and Chief Executive Officer of PECO stated: “The continued strength of our operating performance and growth of our cash flows allow us to increase our monthly dividend distribution once again. This increase is attributed to the success of our differentiated and focused strategy of owning right-sized, high-quality, grocery-anchored neighborhood shopping centers, the PECO team’s ability to drive results at the property level and the many advantages of the suburban markets where we operate our centers. The PECO team is well positioned to continue to deliver solid earnings growth, market-leading operating metrics and long-term value creation.”
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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 shopping centers owned in two institutional joint ventures. 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
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