Phillips Edison As of September 23, 2022 ticker dps (an.) 2022 hike 2021 hike 2020 hike
PECO $1.12 3.7% 5.9% N/A
Business yield Hike yrs 5 yr CAGR freq. paid since
Retail REITs 3.9% N/A N/A Monthly N/A
PECO logo | image credit: dividendhike.com
PECO logo | image credit: dividendhike.com

On September 7, 2022, Phillips Edison & Co (PECO) announced a dividend increase of 3.7% to $0.0933 monthly per share. Last year the commercial REIT initiated a dividend.

Phillips Edison & Company, Inc., one of the nation’s largest owners and operators of grocery-anchored omni-channel neighborhood shopping centers, today announced that its Board of Directors approved a 3.7% increase to the monthly distributions payable October 3, 2022 and November 1, 2022 to stockholders of record at the close of business on September 16, 2022 and October 17, 2022, respectively.

The Board approved the distribution at a rate of $0.0933 per share of the Company’s common stock and per operating partnership unit. When annualized, this is equal to a rate of $1.12 per share, representing an increase of 3.7% over the previous annualized rate of $1.08 per share.

Phillips Edison (PECO) Dividend history and dividend growth statistics
Company name Phillips Edison & Co Inc
Ticker symbol PECO
Sector Real Estate
Business Retail REITs
Dividend paid since 2021
Track record (years increased) 2
Payment Frequency Monthly dividend
Dividend growth: 5 year average N/A
Next dividend per share $0.09
Annual dividend per share $1.12
Dividend yield* 3.4%
Stock price* $32.83
YTD Total Return* 1.5%
Next ex-dividend date September 15, 2022
Next payment date October 3, 2022
Market cap (in $B)* 3.83
Total dividend (in $B) 0.13
© www.dividendhike.com *As of September 6, 2022

“The strength of our operating fundamentals and growth in our cash flows allow us to increase our monthly distribution to our shareholders. Our continued focus is to grow our distribution rate as we grow the cash flows in our grocery-anchored portfolio,” said Jeff Edison, chairman and chief executive officer of PECO. “This increase is a reflection of the success of our focused and differentiated strategy of owning and operating small-format, neighborhood centers anchored by the #1 or #2 grocer in a market which continues to drive high-recurring foot traffic and Neighbor demand, resulting in superior financial and operating performance.

“We recognize that distributions are an important component of an investment in PECO, and we believe our increased dividend yield of approximately 3.4% achieves the right balance between current returns to our shareholders and funding the growth opportunities available to us through acquisitions and outparcel redevelopment.”

Phillips Edison & Company, Inc. (“PECO”), an internally-managed REIT, is one of the nation’s largest owners and operators of grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Ahold Delhaize, and Albertsons. As of June 30, 2022, PECO manages 289 shopping centers, including 269 wholly-owned centers comprising 30.9 million square feet across 31 states, and 20 shopping centers owned in one institutional joint venture. PECO is exclusively focused on creating great omni-channel, grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.

Dividend Calendar

Look at the complete list of upcoming events
Ex-date Ticker Yield YTD hike
Sep 30 PKG 4.4% 0.0%
Sep 30 O 4.8% 0.6%
Sep 30 STT 4.0% 10.5%
Sep 30 RJF 1.3% 0.0%
Sep 30 CAH 3.0% 1.0%
Sep 30 VTR 4.1% 0.0%
Sep 30 APD 2.8% 8.0%
Sep 30 RSG 1.3% 0.0%
Oct 03 A 0.7% 0.0%
Oct 03 DG 0.9% 31.0%