Simon Property Group Increases Quarterly Dividend From $2.05 To $2.10 Per Share
Portfolio Pulse from Benzinga Newsdesk
Simon Property Group has announced an increase in its quarterly dividend from $2.05 to $2.10 per share, marking a 10.5% year-over-year rise. The dividend will be payable on December 30, 2024, to shareholders of record on December 9, 2024. Additionally, a dividend on its Series J Preferred Stock has been declared.
November 01, 2024 | 12:18 pm
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NEUTRAL IMPACT
Simon's Board declared a quarterly dividend on its Series J Preferred Stock of $1.046875 per share. This consistent dividend payment is a positive sign for preferred shareholders.
The declaration of a consistent dividend on the Series J Preferred Stock is a positive sign for preferred shareholders, indicating stability. However, it is less impactful on the common stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Simon Property Group has increased its quarterly dividend to $2.10 per share, a 10.5% increase year-over-year. This move is likely to attract income-focused investors and could positively impact the stock price in the short term.
The increase in the dividend is a positive signal to the market, indicating financial strength and a commitment to returning value to shareholders. This is likely to attract income-focused investors, potentially driving up demand for the stock.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90