Sun Communities hikes dividend by 5.1%

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Sun Communities (SUI) will raise its quarterly dividend by 5.1 percent to 83 cent per share in 2021. This follows a dividend hike of  5.3 percent to $0.79 per share in 2020. The real estate investment trust (REIT) that owns and operates or has an interest in manufactured housing and recreational vehicle communities has now raised its dividend five consecutive years.

The next distribution is payable April 15, 2021 to shareholders of record on March 31, 2021. A new annual rate of $3.32 per share yields 2.3% at a stock price of $143. Sun Communities will now pay shareholders $326 million in dividends annually.

Sun Communities, Inc. is a real estate investment trust that owns and operates or has an interest in manufactured housing and recreational vehicle communities. It has regional property management offices located in Austin, Texas; Dayton, Ohio; Grand Rapids, Michigan; Traverse City, Michigan; Ft. Myers, Florida, and Orlando, Florida. Established in 1975, Sun Communities became a publicly owned corporation in December, 1993. Distributions have traditionally been paid in January, April, July and October. SUI currently does not have a dividend reinvestment plan (the DRIP was terminated effective February 4, 2008).

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City Holding Co hikes dividend by 10%

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On September 27, 2023, City Holding Company (CHCO) announced that it will raise its quarterly dividend by 10 percent to $0.715 per share. This marks the 12th consecutive year of annual dividend increases by the financial company. The next dividend will be paid on October 31, 2023 with an ex-dividend date of October 12, 2023. The dividend yield for CHCO is 3.2% at a stock price of $90.35. “City’s board reaffirmed the Company’s commitment of returning value to its shareholders today by voting to approve an increase in the quarterly cash dividend of 6.5 cents to 71.5 cents,” stated Charles (Skip) Hageboeck, President and CEO. “The Company's current strong capital and liquidity position, our financial performance during 2023, and our confidence in the Company's ability to sustain this performance led to the decision to increase the dividend to $2.86 on an annualized basis.” City Holding Company is the parent company of City National Bank of West Virginia. City National operates bra...
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