Essential Properties Realty Trust, Inc. (EPRT) today announced that it will raise its quarterly dividend by 3.8 percent to 27 cents per share. The increased EPRT dividend is payable on July 14, 2022, to stockholders of record as of the close of business on June 30, 2022. A new annual dividend rate of $1.08 per share yields 4.7% to EPRT shareholders at a stock price of $23.08.
In 2021 real estate company EPRT announced two dividend hikes for a total increase of 8.3 percent. This 2022 dividend will mark the 4th consecutive year of dividend increases. If we include this new dividend hike just announced the company will pay an estimated annual dividend of $131 million to its shareholders.
Essential Properties Realty Trust, Inc. is an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. Essential Properties Realty Trust became a public company in 2018 and paid its first quarterly dividend later that year.