Alpine Income Property Trust (PINE) will raise its quarterly dividend by 1.9% to 27.5 cents per share in 2022. The dividend yield is 5.9% at a stock price of $18.56 for PINE.
Alpine Income Property Trust, Inc. announced today that its Board of Directors has authorized, and the Company has declared a quarterly cash dividend of $0.275 per share of common stock for the third quarter of 2022 (the “Common Stock Cash Dividend”), which represents a 1.9% increase as compared to the Company’s previous quarterly cash dividend of $0.27 per share of common stock.
The Common Stock Cash Dividend represents a 7.8% year-over-year increase as compared to the Company’s third quarter 2021 common stock cash dividend and an annualized yield of approximately 6.0% 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.
Alpine Income Property Trust, Inc. (NYSE: PINE) is a publicly traded real estate investment trust that acquires, owns and operates a portfolio of high-quality net leased commercial properties.