Colonial Properties Keeps Dividend Steady
Multifamily real estate investment trust Colonial Properties Trustannounced yesterday its third-quarter dividend of $0.21 per share, the same rate it's paid for the past two quarters after raising the payout 17% from $0.18 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 19. The REIT has made quarterly payouts to investors since 1994.
The regular dividend payment equates to an $0.84-per-share annual dividend, yielding 3.5% based on the closing price of Colonial Properties Trust's stock on July 8.
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