Urstadt Biddle Properties Inc. Announces Quarterly Dividends on Class A Common and Common Shares

Rhea-AI Summary

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.

Positive

• Increased quarterly dividend for Class A Common Shares to $0.25, representing an annualized increase of $0.05.
• Increased quarterly dividend for Common Shares to $0.225, representing an annualized increase of $0.042.
• Continued commitment to dividend payments with 212 consecutive quarters of dividends since 1969.

Negative

• None.

Raises Annualized Dividend Rate by $0.05 per Share on its Class A Common Shares and $0.042 per share on its Common Shares

GREENWICH, Conn.--(BUSINESS WIRE)-- At their regular meeting yesterday, the Board of Directors of Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) approved an increase in the quarterly dividend rate declared for its Class A Common stock and Common stock. The quarterly dividend rate declared for the Class A Common Stock was increased to $0.25 per share and the quarterly dividend rate declared for the Common stock was increased to $0.225 per share, which represents an annualized increase of $0.05 per share for the Class A Common stock and $0.042 per share for the Common stock. The dividends are payable January 13, 2023 to stockholders of record on January 6, 2023. See the Company’s earnings press release, issued December 15, 2022, for a more detailed discussion of these dividends. The dividends represent the 212th consecutive quarterly dividend on common shares declared since the Company began operating in 1969.

The Board of Directors also declared the regular quarterly dividends on the Company’s Series H Preferred Stock and Series K Preferred Stock. The dividends were declared in the amount of $0.390625 for each share of Series H Preferred Stock and $0.3672 for each share of the Series K Preferred Stock. The dividends are payable January 31, 2023 to stockholders of record on January 13, 2023.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 77 properties containing approximately 5.3 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 211 consecutive quarters of uninterrupted dividends to its shareholders since its inception.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221215005967/en/

John T. Hayes, CFO or Willing Biddle, CEO

Urstadt Biddle Properties Inc.

203-863-8200

Source: Urstadt Biddle Properties Inc.

FAQ

What is the new dividend rate for Urstadt Biddle Properties' Class A Common Shares?

The new dividend rate for Class A Common Shares is $0.25 per share.

What is the new dividend rate for Urstadt Biddle Properties' Common Shares?

The new dividend rate for Common Shares is $0.225 per share.

When will the dividends for Urstadt Biddle Properties be paid?

The dividends will be paid on January 13, 2023, to stockholders of record on January 6, 2023.

How many consecutive quarters has Urstadt Biddle Properties paid dividends?

Urstadt Biddle Properties has paid dividends for 212 consecutive quarters since its inception.