Saul Centers hikes dividend by 3.8%

Saul Centers, Inc. (BFS) will raise its quarterly dividend by 3.8 percent to $0.55 per share in 2021. This comes after a dividend hike of 1.9 percent to $0.53 per share in the first quarter of 2019 and follows a 2 percent dividend hike in 2018.

The next dividend will be paid on July 30, 2021, to holders of record on July 30, 2021. A new annualized dividend rate of $2.20 per share yields 4.8% at a stock price of $45.73.

Saul Centers, Inc. is a real estate investment trust headquartered in Bethesda, Maryland. The company operates and manages a real estate portfolio which includes community and neighborhood shopping centers and mixed-use properties. Saul Centers has been publicly traded since August 1993 and initiated its dividend in October 1993.