Empire State Realty Trust (ESRT) will reinstate its quarterly dividend in 2021 with a first payment of $0.035 per share. Last year the REIT suspended its quarterly dividend of 10.5 cents per share.

The real estate investment trust with office and retail properties in Manhattan and the greater New York metropolitan area will pay the next dividend on June 30, 2021 to holders of record on June 15, 2021.The ex-dividend date for the next ESRT dividend is June 14. A new annual dividend rate of 14 cents per share will yield 1.2% at a stock price of $11.49 for Empire State Realty Trust.

“Board and management confidence in the recovery of New York City, the improvement seen to-date in the Company’s results, and ESRT’s liquidity position and strengthening balance sheet have resulted in a reinstatement of our dividend one quarter earlier than previously announced,” said Christina Chiu, Empire State Realty Trust’s Executive Vice President and Chief Financial Officer.

Empire State Realty Trust, Inc. owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area, including the Empire State Building, the “World's Most Famous Building.” The company's office and retail portfolio covers 10.1 million rentable square feet, as of March 31, 2021, which consists of 9.4 million rentable square feet across 14 office properties, including nine in Manhattan, three in Fairfield County, Connecticut, and two in Westchester County, New York; as well as approximately 700,000 rentable square feet in the retail portfolio. The company reinstated its quarterly dividend in May 2021.