AvalonBay Maintains Steady Dividend
Real estate investment trust AvalonBay Communities announced yesterday its second-quarter dividend of $1.07 per share, the same rate it paid last quarter after raising the payout 10%, from $0.97 per share.
The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 28. The REIT has consistently paid dividends each year since going public in 1994.
The regular dividend payment equates to a $4.28-per-share annual dividend, yielding 3.1% based on the closing price of AvalonBay Communities' stock on May 22.
The article AvalonBay Maintains Steady Dividend originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.