Veris Residential Declares Quarterly Cash Dividend

Rhea-AI Summary

Veris Residential (NYSE: VRE), a forward-thinking REIT focused on Class A multifamily properties, has declared a quarterly cash dividend of $0.07 per share for Q3 2024. This represents a 7% increase from the previous dividend. The dividend will be paid on October 16, 2024 to shareholders of record as of September 30, 2024. Veris Residential emphasizes its commitment to sustainability and social responsibility in its operations and property development. The company's Board of Directors considers multiple factors when determining future dividends, including AFFO, cash flows, and distribution requirements.

Positive

• Quarterly dividend increased by 7%
• Commitment to sustainability and social responsibility may attract ESG-focused investors

Negative

• Dividend yield remains relatively low at $0.07 per share

News Market Reaction

-1.58%

1 alert

-1.58% News Effect

On the day this news was published, VRE declined 1.58%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

JERSEY CITY, N.J., Aug. 5, 2024 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) ("Veris Residential" or the "Company"), a forward-thinking, environmentally and socially conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today announced that the Company's Board of Directors has declared a cash dividend on its common stock for the third quarter 2024 in the amount of $0.07 for the period ending September 30, 2024, representing an increase of 7% from the prior dividend. The dividend will be paid on October 16, 2024 to shareholders of record as of September 30, 2024.

The timing and amount of future dividends is subject to approval by the Board of Directors taking into consideration multiple factors including but not limited to the Company's AFFO and actual cash flows from operations, its estimate of taxable income and related distribution requirements as well as any capital requirements.

About Veris Residential, Inc.

Veris Residential, Inc. is a forward-thinking, environmentally and socially conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit https://verisresidential.com. 

Investors
Anna Malhari
Chief Operating Officer
investors@verisresidential.com

Media 
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170
veris-residential@gasthalter.com

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SOURCE Veris Residential, Inc.

FAQ

What is Veris Residential's (VRE) dividend amount for Q3 2024?

Veris Residential (VRE) declared a quarterly cash dividend of $0.07 per share for Q3 2024.

When will Veris Residential (VRE) pay its Q3 2024 dividend?

Veris Residential (VRE) will pay its Q3 2024 dividend on October 16, 2024 to shareholders of record as of September 30, 2024.

How much did Veris Residential (VRE) increase its dividend in Q3 2024?

Veris Residential (VRE) increased its quarterly dividend by 7% in Q3 2024 compared to the previous dividend.

What factors does Veris Residential (VRE) consider when determining future dividends?

Veris Residential (VRE) considers factors such as AFFO, actual cash flows from operations, taxable income, distribution requirements, and capital needs when determining future dividends.