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Several companies recently raised their dividends, boosting investor confidence in a month marked by economic uncertainty as the U.S. presidential election takes center stage.
Dividend hikes signal a company’s financial health and reward long-term shareholders with increased dividend income.
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Let’s examine two real estate investment trusts (REITs) and one oil giant that just raised their dividends, reinforcing their commitment to returning value to investors.
Kimco Realty Corp. (NYSE:KIM) is one of the largest owners and operators of high-quality open-air, grocery-anchored shopping centers and mixed-use properties in the United States. As of Sept. 30, it owned interests in 567 properties totaling approximately 101 million square feet of gross leasable space.
On Oct. 31, Kimco announced a 4.2% increase to its dividend. It now pays a quarterly dividend of $0.25 per share, which results in an annualized dividend of $1.00 per share and gives its stock a 4.1% yield at the time of this writing.
Kimco has delivered steady dividend increases for its shareholders in recent years. Its 4.3% dividend increase in October 2023 puts it on track for 2024 to mark the third consecutive year that it has raised its annual dividend payment and the hike it just announced puts it on pace for 2024 to mark the fourth consecutive year with an increase.
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Simon Property Group (NYSE:SPG) owns and manages premier shopping, dining, entertainment and mixed-use properties across North America, Asia and Europe. As of Sept. 30, its portfolio comprised ownership interests in 231 properties containing approximately 184 million square feet.
On Nov. 1, Simon announced a 2.4% increase in its dividend. It now pays a quarterly dividend of $2.10 per share, which results in an annualized dividend of $8.40 per share and gives its stock a 4.9% yield at the time of this writing.
Simon Property has been raising its dividend at a remarkable rate recently. It has now raised its dividend 12 times since the start of 2021, including increases for four consecutive quarters, which puts it on pace for 2024 to mark the third consecutive year in which it has raised its annual dividend payment and on track for 2025 to mark the fourth consecutive year with an increase.
