Whitestone REIT Raises Dividend by 9%

Dow Jones
2024/12/05
 

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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