CTO Realty Growth, formerly Consolidated-Tomoka Land (CTO), will hike its dividend the third time in 2022 with a new fresh increase of 1.8% to $0.38 per share quarterly. The dividend has been raised by 14% YTD.

CTO Realty Growth, Inc. announced today that its Board of Directors has authorized, and the Company has declared a quarterly cash dividend of $0.38 per share of common stock for the third quarter of 2022 (the “Common Stock Cash Dividend”), which represents a 1.8% increase as compared to the Company’s previous quarterly cash dividend of $0.37333 per share of common stock. The Common Stock Cash Dividend is being increased to account for the Company’s strong year-to-date cash flow growth and the need to distribute a certain amount of taxable income to maintain its REIT tax status.

The Common Stock Cash Dividend represents a 14.0% year-over-year increase as compared to the Company’s third quarter 2021 common stock cash dividend and an annualized yield of approximately 6.9% based on the closing price of the common stock on August 19, 2022.

The Common Stock Cash Dividend is payable on September 30, 2022 to stockholders of record as of the close of business on September 12, 2022 and the ex-dividend date for the Common Stock Cash Dividend is September 9, 2022.

CTO Realty Growth, Inc. is a publicly traded real estate investment trust that owns and operates a portfolio of high-quality, retail-based properties located primarily in higher growth markets in the United States. CTO also externally manages and owns a meaningful interest in Alpine Income Property Trust, Inc. (PINE), a publicly traded net lease REIT. CTO was formerly named Consolidated-Tomoka Land Co., a Florida-based publicly traded real estate company, which that owned a portfolio of income properties in diversified markets in the United States. Consolidated Tomoka Land Co. traces its roots back to Jacksonville in the early 1900s.