UDR Inc (UDR) will raise its quarterly dividend by 0.7 percent to $0.3625 per share in 2021. This follows a dividend increase of 5.1 percent to $0.36 per share in 2020. This also marks the 12th consecutive year of dividend increases by the REIT.
The next dividend will be payable on April 30, 2021, to stockholders of record on April 09, 2021. A new annualized dividend rate of $1.45 per share yields 3.3. at a stock price of $44.62. The April 30, 2021 dividend will be the 194th consecutive quarterly dividend paid by UDR on its common stock. UDR will now pay shareholders an estimated $427 million in dividends annually.
UDR, Inc. (United Dominion Realty Trust) is a real estate investment trust that owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States, including Orange County, San Francisco and Los Angeles in California; Seattle, Washington; Richmond, Virginia; Baltimore, Maryland; Orlando and Tampa in Florida; Nashville, Tennessee, and Dallas and Austin in Texas. The high barrier-to-entry markets are characterized by limited land for new construction, difficult and lengthy entitlement processes, low single-family home affordability and strong employment growth potential. UDR was formed in 1972 as a Virginia corporation. In June 2003, we changed our state of incorporation from Virginia to Maryland. The Operating Partnership is the successor-in-interest to United Dominion Realty, L.P., a limited partnership formed under the laws of Virginia, which commenced operations in 1995. UDR has paid a dividend since at least 1987.