UDR Makes It 163 in a Row

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Multifamily housing REIT UDR announced yesterday its second-quarter dividend of $0.235 per share, the same rate it paid last quarter after raising the payout 7% from $0.22 per share.

The board of directors said the quarterly dividend is payable on July 31 to the holders of record at the close of business on July 10. The payout marks the REIT's 163rd consecutive quarterly dividend payment. It has paid quarterly dividends to investors since 1987.

The board also announced that it will pay a regular quarterly dividend on its Series E preferred stock of $0.3322 per share. The preferred dividend is also payable on July 31 to preferred shareholders of record on July 10.

The regular dividend payment equates to a $0.94-per-share annual dividend, yielding 3.8% based on the closing price of UDR's stock on June 18.

UDR Dividend Chart

UDR Dividend data by YCharts

The article UDR Makes It 163 in a Row originally appeared on Fool.com.

Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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