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UMH Properties, Inc. (UMH) announced a 4.9% increase in its quarterly common stock dividend to $0.215 per share, payable on June 17, 2024. The company experienced three consecutive quarters of normalized FFO per share growth in 2023, with a positive outlook on occupancy, revenue, and earnings growth.
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FREEHOLD, NJ, April 01, 2024 (GLOBE NEWSWIRE) -- On April 1, 2024, UMH Properties, Inc. (NYSE:UMH) (TASE:UMH) announced today that its Board of Directors approved a 4.9% increase in the Company’s quarterly common stock dividend, raising it to $0.215 per share from $0.205 per share. The dividend is payable June 17, 2024, to shareholders of record at the close of business on May 15, 2024. This represents an annual dividend rate of $0.86 per share.
Samuel A. Landy, President and Chief Executive Officer, commented, “We are pleased to announce a fourth consecutive annual increase of our common stock dividend. In 2023, we experienced three consecutive quarters of normalized FFO per share growth. Manufactured homes for sale or rent remain highly desirable housing for households earning $40,000 per year and more. Our supply and inventory issues are behind us and we anticipate future occupancy, revenue and earnings growth.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina and Georgia. UMH also has an ownership interest in and operates two communities in Florida, containing 363 sites, through its joint venture with Nuveen Real Estate.
Contact: Nelli Madden 732-577-9997
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UMH's new quarterly common stock dividend is $0.215 per share.
The dividend is payable on June 17, 2024.
UMH owns and operates approximately 25,800 developed homesites.
UMH's communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama, South Carolina, and Georgia.
UMH experienced three consecutive quarters of normalized FFO per share growth in 2023.
The annual dividend rate per share for UMH is $0.86.
Samuel A. Landy is the President and Chief Executive Officer of UMH.
umh properties, inc., (umh) is a real estate investment trust (reit) that owns and operates manufactured home communities in seven states throughout the northeast. these states include new jersey, new york, ohio, pennsylvania, tennessee, indiana and michigan. manufactured home communities provide long-term appreciation, recession resistant qualities, and stable income streams. umh has been in business since 1968, operating as a public company since 1985. we own a portfolio of 74 manufactured home communities, housing approximately 13,400 home sites. umh has a subsidiary, umh sales and finance, which sells manufactured homes into its communities. if you are looking to purchase a new home in one of our communities, please visit the umh sales and finance site by clicking this link: www.umhhomesales.com. we encourage you to visit our investors website ir.umh.com where you will find our most recent annual report, letter to shareholders, and sec filings. our website also includes our d
