By Sarina Isaacs
Whitestone REIT increased its dividend by 9%.
The Houston-based real estate investment trust announced on Wednesday that it upped its monthly dividend to 4.5 cents per share, or 13.5 cents per quarter. That marks a 9% increase from the prior quarterly payout.
The annual dividend amount, 54 cents per share, makes for a yield of 3.8% based on Wednesday's closing price of $14.39.
CEO Dave Holeman said the hike keeps the payout in line with the REIT's earnings growth, maintaining a payout ratio of about 50% of core funds from operations.
Write to Sarina Isaacs at sarina.isaacs@wsj.com
(END) Dow Jones Newswires
December 04, 2024 17:18 ET (22:18 GMT)
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