Urstadt Biddle Properties Inc. - UBP STOCK NEWS

Urstadt Biddle Properties Inc. declares quarterly dividends on Class A Common Stock and Common Stock. Dividends of $0.2083 per share for Class A Common Stock and $0.1875 per share for Common Stock. Dividends payable on July 6, 2023, to stockholders of record on June 14, 2023. Also declares regular dividends on Series H Preferred Stock and Series K Preferred Stock. Dividends of $0.390625 per share for Series H Preferred Stock and $0.3672 per share for Series K Preferred Stock. Dividends payable on July 31, 2023, to stockholders of record on July 14, 2023.

Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) declared quarterly dividends for Class A Common Stock and Common Stock at $0.25 and $0.225 per share, respectively, payable on April 14, 2023, to stockholders of record on April 3, 2023. Additionally, dividends for Series H and K Preferred Stock were declared at $0.390625 and $0.3672 per share, payable on April 28, 2023, to stockholders of record on April 14, 2023. This marks the 213th consecutive quarterly dividend since the company's inception in 1969.

Urstadt Biddle Properties reported strong Q1 fiscal 2023 results, with net income of $6.8 million ($0.18 per diluted Class A share) and funds from operations (FFO) of $15.6 million ($0.42 per diluted Class A share). Leasing activity increased, achieving a 94.1% portfolio occupancy, up 1.1% from the previous year. Average rental rates rose by 4.6% for renewals and 10.3% for new leases. The company maintained a solid balance sheet, with $14.1 million in cash and no mortgage debt maturing until 2024. A quarterly dividend of $0.25 per Class A share was declared, reinforcing its commitment to shareholder returns.

Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) announced the tax treatment for its 2022 distributions. Shareholders received cash distributions from Common, Class A Common, and Preferred shares totaling $0.858, $0.95, and $1.5625 respectively. The majority of these distributions comprise non-qualifying ordinary income and Section 199A dividends, with Common shares showing 96.52% as ordinary income. The trust has maintained 212 consecutive quarters of uninterrupted dividends since inception, reflecting its long-standing commitment to shareholder returns. Shareholders are advised to consult tax advisors for specific treatment.

Urstadt Biddle Properties Inc. has raised its dividend rates, increasing the quarterly dividend for Class A Common Shares to $0.25 and for Common Shares to $0.225. This translates to an annualized increase of $0.05 per share for Class A and $0.042 for Common Shares. The dividends are payable on January 13, 2023, to stockholders of record as of January 6, 2023.

This marks the 212th consecutive quarterly dividend declared since the company's inception in 1969.

Urstadt Biddle Properties reported its fiscal 2022 results, highlighting a net income of $6.9 million for Q4, translating to $0.18 per diluted Class A Common share. The company leased 93.0% of its portfolio, with rental rates increasing by 2.0% for renewals and 19.3% for new leases, boosted by a significant lease with a national tenant. A quarterly dividend of $0.25 was declared, reflecting confidence in liquidity. The firm repurchased 937,984 Class A shares at an average of $16.62, aiming to enhance shareholder value. For the year, net income fell to $26.1 million, impacted by lower gains on property sales.

Urstadt Biddle Properties (NYSE: UBP, UBA) has authorized a share repurchase program for up to 2,000,000 shares of its Common and Class A Common Stock. This program replaces the previous one from June 2017 and will be executed based on market conditions. The repurchases will utilize available cash, have no set expiration, and can be halted at the company's discretion. Urstadt Biddle Properties has maintained 210 consecutive quarters of dividend payments, indicating its commitment to shareholder value.

Urstadt Biddle Properties reported its operating results for Q3 FY 2022, with net income of $6.6 million ($0.17 per diluted Class A share) and FFO of $14.6 million ($0.38 per diluted Class A share). The company repurchased 310,473 shares at an average price of $17.43, emphasizing strong liquidity with $12.2 million in cash and $114 million available on a credit facility. 92.1% of its portfolio was leased, showing a slight increase. Rental rates saw a 7.1% rise in renewals, but a 17.3% drop in new leases. Dividends of $0.2375 and $0.2145 were declared for Class A and Common shares, respectively.

The Board of Directors of Urstadt Biddle Properties has declared quarterly dividends for both Class A Common Stock and Common Stock, set at $0.2375 and $0.2145 respectively. The payment dates are October 14, 2022 for stockholders recorded by September 30, 2022. Additionally, dividends for Series H and K Preferred Stocks were declared at $0.390625 and $0.3672, payable on October 28, 2022. This marks the 211th consecutive quarterly dividend since the company's inception in 1969.