Spirit Realty Capital, Inc. Announces Increase In Common Stock Quarterly Dividend From $0.6630/Share To $0.6696/Share
Portfolio Pulse from Happy Mohamed
Spirit Realty Capital, Inc. (NYSE:SRC) has announced an increase in its quarterly common stock cash dividend from $0.6630 per share to $0.6696 per share, a 1% increase. The new annualized rate is $2.6784 per share. The cash dividend will be received by stockholders of record as of September 29, 2023, on October 13, 2023. The company's Board of Directors also declared a quarterly cash dividend of $0.3750 per share for holders of the company's 6.00% Series A Cumulative Redeemable Preferred Stock.
August 10, 2023 | 8:59 pm
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Spirit Realty Capital's decision to increase its quarterly common stock cash dividend may attract more investors, potentially leading to a short-term increase in the stock price.
Dividend increases are often seen as a sign of a company's strong financial health. As a result, they can attract more investors, leading to increased demand for the stock and potentially a rise in the stock price. However, the impact may be limited as the increase is relatively small.
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