Federal Realty Investment Trust (FRT) will raise its quarterly dividend by 0.9 percent to $1.07 per share in 2021. This comes after another small dividend hike of 1.0 percent to $1.06 per share in 2020 and marks 54 consecutive years of dividend increases.
The next common dividend will be payable on October 15, 2021, to common shareholders of record on September 22, 2021. A new annual rate of $4.28 per share yields 3.6% at a stock price of $119. This increase represents the 54th consecutive year that Federal Realty has increased its common dividend, the longest record of consecutive annual dividend increases in the REIT sector.
Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company specializes in in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. The company claims it has the longest record of consecutive annual dividend increases in the REIT sector. Federal Realty Investment Trust is a Dividend Aristocrat and has paid a dividend to shareholders every year since at least 1962.