UDR Makes It 163 in a Row
Multifamily housing REIT UDRannounced 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.
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