National Retail Properties (NNN) will raise its quarterly dividend by 1.9 percent to 52 cents per share in 2021. This comes after a dividend hike of 1.0 percent to 52 cents per share announced by the REIT in 2020. NNN has now increased its dividend for 32 consecutive years.
The next dividend is payable August 16, 2021 to common shareholders of record on July 30, 2021. A new annual rate of $2.12 per share yields 4.4% at a stock price of $48.44. NNN is one of only three publicly traded REITs and 86 publicly traded companies in America to have increased annual dividends for 32 or more consecutive years.
Jay Whitehurst, Chief Executive Officer, commented: "National Retail Properties is pleased to make 2021 our 32nd consecutive year of annual dividend increases. This impressive track record of consistent growth has, once again, spanned turmoil in the economy and validates the enduring power of our multi-year approach and strong, flexible balance sheet."
National Retail Properties (NNN) is a fully integrated real estate investment trust 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 focuses on investing in a range of property and tenant types; leases, mortgages and other types of real estate interests; loans secured by personal property; loans secured by partnership or membership interests in partnerships or limited liability companies, and securities of other REITs, or other issuers, including for the purpose of exercising control over such entities.