STORE Capital Corporation (STOR) will raise its quarterly dividend by 6.1 percent to $0.35 per share in 2019.
This will make 2019 the 5th consecutive year of dividend increases.
The next dividend will be paid on October 15, 2019 to STORE Capital stockholders of record as of the close of business on September 30, 2019. A new annual dividend rate of $1.40 per share yields 3.8% at a stock price of $37.
“This dividend increase reflects our Board’s continued confidence in the sustainability and growth of the company’s adjusted funds from operations,” said Christopher H. Volk, President and Chief Executive Officer of STORE Capital. “We are committed to delivering superior returns to our stockholders, including a well-protected dividend. This represents the fifth increase in as many years as we have been a public company.”
STORE Capital Corporation is an internally managed net-lease real estate investment trust (REIT). The company is engaged in the acquisition, investment and management of single tenant operational real estate (STORE) properties. Its customers include restaurants, early childhood education centers, movie theaters, health clubs and furniture stores. STORE is providing real estate financing solutions principally to middle-market and larger businesses that own STORE Properties and operate within the broad-based service, retail and manufacturing sectors of the U.S. economy. STORE has paid a dividend every year since 2014.