Essential Properties Realty Trust, Inc. Increases Quarterly Dividend to $0.29 per Share, a 1.8% Increase Over Prior Quarter

Rhea-AI Summary

Essential Properties Realty Trust (NYSE: EPRT) announced a 1.8% increase in its quarterly cash dividend, now set at $0.29 per share for the second quarter of 2024. This brings the annualized dividend to $1.16 per share, reflecting a $0.02 increase from the previous rate. The dividend will be payable on July 12, 2024, to shareholders on record as of June 28, 2024.

Positive

• Quarterly dividend increased by 1.8%, now at $0.29 per share.
• Annualized dividend rises to $1.16 per share, reflecting a $0.02 increase.
• Dividend increase may indicate financial stability and confidence in future performance.

Negative

• Dividend increase of only 1.8% might be seen as modest by some investors.

PRINCETON, N.J.--(BUSINESS WIRE)-- Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that its Board of Directors declared a quarterly cash dividend of $0.29 per share of common stock for the second quarter of 2024. On an annualized basis the second quarter 2024 dividend of $0.29 equals $1.16 per share, an increase of $0.02 per share compared to the previous annualized dividend. The dividend is payable on July 12, 2024, to stockholders of record as of the close of business on June 28, 2024.

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of March 31, 2024, the Company’s portfolio consisted of 1,937 freestanding net lease properties with a weighted average lease term of 14.1 years and a weighted average rent coverage ratio of 3.9x. In addition, as of March 31, 2024, the Company’s portfolio was 99.9% leased to 383 tenants operating 548 different concepts in 16 industries across 48 states.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240603082549/en/

Investor/Media:

Essential Properties Realty Trust, Inc.

Robert W. Salisbury, CFA

Senior Vice President, Head of Capital Markets

609-436-0619

investors@essentialproperties.com

Source: Essential Properties Realty Trust, Inc.

FAQ

What is the new quarterly dividend for Essential Properties Realty Trust (EPRT)?

The new quarterly dividend is $0.29 per share.

When is Essential Properties Realty Trust's (EPRT) next dividend payable?

The next dividend is payable on July 12, 2024.

What is the record date for Essential Properties Realty Trust's (EPRT) upcoming dividend?

The record date is June 28, 2024.

How much has Essential Properties Realty Trust (EPRT) increased its quarterly dividend by?

The quarterly dividend has been increased by 1.8%.

What is the annualized dividend for Essential Properties Realty Trust (EPRT) after the increase?

The annualized dividend is $1.16 per share.