Armada Hoffler Properties (AHH) will pay a quarterly dividend of 11 cents per share in October. Earlier this year the quarterly dividend was suspended by the REIT in the second quarter of 2020. This february the REIT had announced a 4.8 percent dividend hike to $0.22 per share, marking the 7th consecutive year of dividend increases by the real estate investment trust.

The third quarter dividend will be paid in cash on October 8, 2020 to stockholders of record on September 30, 2020.

“Given the uncertainty surrounding the pandemic in April, we prudently and proactively suspended dividends on common stock,” said Louis Haddad, President and Chief Executive Officer. “Although we are far from sounding the all-clear, with our monthly rent collection rates approaching pre-COVID levels, we believe that now is the right time to reinstate the dividend at a reasonable level with room for future growth. We appreciate the Board’s confidence in our management team, our diversified business model, and our future prospects. We look forward to our August 4th earnings call and intend to provide additional clarity on the remainder of the year at that time.”

Armada Hoffler Properties, Inc. is a full service real estate company engaged in developing, building, owning and managing institutional-grade office, retail and multifamily properties in markets across the Mid-Atlantic United States, including Virginia, Maryland, North Carolina and South Carolina. The company was founded in 1979 by Daniel A. Hoffler and has paid a dividend every year since 2015.