Phillips Edison & Company Increases Monthly Dividend Distribution by 5.1% to $0.1025 Per Common Share
03 Setembro 2024 - 5:05PM
Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the
“Company”), one of the nation’s largest owners and operators of
high-quality, grocery-anchored neighborhood shopping centers, today
announced that its Board of Directors (the “Board”) approved a 5.1%
increase to the monthly dividend distributions payable October 1,
2024 and November 1, 2024 to common stockholders of record as of
September 16, 2024 and October 15, 2024, respectively.
The Board approved the distribution at a rate of
$0.1025 per share of the Company’s common stock. When annualized,
this is equal to a rate of $1.23 per share, representing an
increase of 5.1% over the previous annualized rate of $1.17 per
share. Operating partnership unit holders receive distributions at
the same rate as common stockholders, subject to the required tax
withholding.
Jeff Edison, Chairman and Chief Executive
Officer of PECO stated: “The continued strength of our operating
performance and growth of our cash flows allow us to increase our
monthly dividend distribution once again. This increase is
attributed to the success of our differentiated and focused
strategy of owning right-sized, high-quality, grocery-anchored
neighborhood shopping centers, the PECO team’s ability to drive
results at the property level and the many advantages of the
suburban markets where we operate our centers. The PECO team is
well positioned to continue to deliver solid earnings growth,
market-leading operating metrics and long-term value creation.”
Connect with PECOFor additional
information, please visit https://www.phillipsedison.com/
Follow PECO on:Twitter at
https://twitter.com/PhillipsEdison Facebook at
https://www.facebook.com/phillipsedison.co Instagram at
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LinkedIn at
https://www.linkedin.com/company/phillipsedison&company
About Phillips Edison &
CompanyPhillips Edison & Company, Inc. (“PECO”) is one
of the nation’s largest owners and operators of grocery-anchored
neighborhood 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, Albertsons and Ahold Delhaize. As of June 30, 2024,
PECO managed 306 shopping centers, including 286 wholly-owned
centers comprising 32.6 million square feet across 31 states and
shopping centers owned in two institutional joint ventures. PECO is
focused on creating great omni-channel, grocery-anchored shopping
experiences and improving communities, one neighborhood shopping
center at a time.
PECO uses, and intends to continue to use, its
Investors website, which can be found at
https://investors.phillipsedison.com, as a means of disclosing
material nonpublic information and for complying with its
disclosure obligations under Regulation FD.
Forward-Looking StatementsThis
press release may contain certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements can generally be identified
by the Company’s use of forward-looking terminology such as “may,”
“will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,”
“continue,” “seek,” “objective,” “goal,” “strategy,” “plan,”
“focus,” “priority,” “should,” “could,” “potential,” “possible,”
“look forward,” “optimistic,” or other similar words. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
Such statements are subject to known and unknown risks and
uncertainties, which could cause actual results to differ
materially from those projected or anticipated, including the risk
factors and other risks and uncertainties described in the
Company’s 2023 Annual Report on Form 10-K, filed with the SEC on
February 12, 2024, as updated from time to time in the Company’s
periodic and/or current reports filed with the SEC, which are
accessible on the SEC’s website at www.sec.gov. Except as required
by law, the Company does not undertake any obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
InvestorsKimberly Green, Head
of Investor Relations(513) 692-3399, kgreen@phillipsedison.com
Phillips Edison (NASDAQ:PECO)
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