National Retail Properties (NNN) will raise its quarterly dividend by 5.3 percent to $0.50 per share in 2018.
Last year NNN hiked its dividend by 2 cents to $0.475 quarterly per share. The retail REIT has now increased its dividend for 29 consecutive years.
The next dividend is payable August 15, 2018 to common shareholders of record on July 31, 2018. At the current stock price of $43.98 the new annual dividend of $2.00 yields 4.3%.
National Retail Properties is one of only three publicly traded REITs and 88 publicly traded companies in America to have increased annual dividends for 29 or more consecutive years.
National Retail Properties (NNN) is a fully integrated real estate investment trust (“REIT”) formed in 1984. NNN acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. NNN’s strategy is to invest primarily in retail real estate that is typically well located within each local market for its tenants’ retail lines of trade.