Plymouth Industrial REIT Increases Quarterly Common Stock Dividend by 5% and Declares Dividend for the Second Quarter of 2021

Rhea-AI Summary

Plymouth Industrial REIT, Inc. (NYSE: PLYM) has announced a 5% increase in its quarterly cash dividend, raising it from $0.20 to $0.21 per share. This translates to an annualized rate of $0.84 per common share. The dividend will be payable on July 30, 2021, to shareholders on record as of June 30, 2021. The Chairman and CEO, Jeff Witherell, attributed this increase to strong portfolio performance and solid market fundamentals, reaffirming the company's commitment to providing returns to its shareholders.

Positive

• 5% increase in quarterly cash dividend to $0.21 per share.
• Annualized dividend rate now stands at $0.84 per share.
• Strong portfolio performance and solid market fundamentals.

Negative

• None.

Plymouth Industrial REIT, Inc. (NYSE: PLYM) today announced that the Company’s board of directors has declared a 5% increase in the Company’s regular quarterly cash dividend to $0.21 per share of common stock for the second quarter of 2021 from its previous regular quarterly cash dividend of $0.20 per share. The dividend, which equates to an annualized rate of $0.84 per common share, is payable on July 30, 2021 to stockholders of record as of the close of business on June 30, 2021.

Jeff Witherell, Chairman and Chief Executive Officer of Plymouth, noted, “In light of the continued strong performance of our portfolio and solid fundamentals in our markets, we are pleased to provide this additional return to our shareholders in the form of a 5% increase in the quarterly common stock dividend.”

About Plymouth

Plymouth Industrial REIT, Inc. (NYSE: PLYM) is a real estate investment trust focused on the acquisition, ownership and management of single and multi-tenant industrial properties, including distribution centers, warehouses, light industrial and small bay industrial properties, located in primary and secondary markets within the main industrial, distribution and logistics corridors of the United States. 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210506005236/en/

FAQ

What is the new dividend amount for Plymouth Industrial REIT?

The new quarterly dividend amount is $0.21 per share.

When will the dividend be paid to shareholders?

The dividend will be payable on July 30, 2021.

What is the record date for the dividend payout?

The record date for the dividend payout is June 30, 2021.

What is the annualized dividend rate for Plymouth Industrial REIT?

The annualized dividend rate is $0.84 per common share.

What factors influenced the increase in the dividend?

The increase was influenced by strong portfolio performance and solid fundamentals in the markets.