Increased Common Dividend Declared by NNN REIT, Inc.

Rhea-AI Summary

NNN REIT, Inc. (NYSE: NNN) announces a 2.7% increase in quarterly dividend, marking the 34th consecutive annual dividend increase. The company primarily invests in high-quality retail properties with a gross leasable area of approximately 35.3 million square feet and a weighted average remaining lease term of 10.3 years.

Positive

• NNN REIT, Inc. continues its impressive track record of annual dividend increases, demonstrating financial stability and investor confidence.
• The company's focus on high-quality retail properties with long-term, net leases provides a stable income stream and potential for long-term growth.

Negative

• None.

-- Marks 34^th Consecutive Annual Dividend Increase --

ORLANDO, Fla., July 14, 2023 /PRNewswire/ -- The Board of Directors of NNN REIT, Inc. (NYSE: NNN), a real estate investment trust, today announced a quarterly dividend of 56.5 cents per share payable August 15, 2023 to shareholders of record as of July 31, 2023.  The 2.7% increase in the quarterly dividend marks NNN's 34^th consecutive annual dividend increase. NNN is one of only three publicly traded REITs to have increased its annual dividend for 34 or more consecutive years.

NNN REIT invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of March 31, 2023, the company owned 3,449 properties in 49 states with a gross leasable area of approximately 35.3 million square feet and a weighted average remaining lease term of 10.3 years.  For more information on the company, visit www.nnnreit.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/increased-common-dividend-declared-by-nnn-reit-inc-301877146.html

SOURCE NNN REIT, Inc.

FAQ

What is the dividend increase announced by NNN REIT, Inc. (NYSE: NNN)?

NNN REIT, Inc. has announced a 2.7% increase in the quarterly dividend, marking the 34th consecutive annual dividend increase.

What type of properties does NNN REIT, Inc. primarily invest in?

NNN REIT, Inc. primarily invests in high-quality retail properties subject to long-term, net leases.

How many properties does NNN REIT, Inc. own and in how many states?

As of March 31, 2023, NNN REIT, Inc. owned 3,449 properties in 49 states with a gross leasable area of approximately 35.3 million square feet.

What is the weighted average remaining lease term for NNN REIT, Inc.'s properties?

The weighted average remaining lease term for NNN REIT, Inc.'s properties is 10.3 years.