Federal Realty Trust raises dividend for 50th year
New Dividend Aristocrat Federal Realty Investment Trust (FRT) will raise its quarterly dividend to $1 per share.
"The ability to raise the dividend on common shares every single year since 1967 is the strongest testament I can think of to reflect both the quality and resiliency of our real estate portfolio and the sustainability, consistency and strength of our balance sheet and business plan," said Donald C. Wood, President and Chief Executive Officer. "When you think about the volatility in interest rates, economic conditions and retailer peaks and valleys over that half century time period, the annual consistency of an increasing cash flow stream distributed to investors that has been generated by this platform is all the more impressive," Mr. Wood concluded.
Federal Realty is a recognized leader 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. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 99 properties include over 2,800 tenants, in over 23 million square feet, and over 1,800 residential units.