SITE Centers Corp (NYSE:SITC), a U.S.-based Real Estate Investment Trust (REIT), declared a dividend of $0.13 per share on Monday. The payment is scheduled for October 12, 2023, with an ex-dividend date set for September 25, 2023.
The company operates as a fully integrated real estate entity and manages open-air shopping centers offering diverse retail experiences. Since 1993, SITE Centers Corp has maintained a consistent track record of quarterly dividend payments, a key consideration for investors awaiting the forthcoming payout.
Currently, the REIT's dividend yield stands at 4.12% for both the trailing 12-month and forward periods. This consistency indicates that investors can anticipate similar dividend payouts in the coming year.
Nonetheless, a closer look at the company's historical dividend growth paints a contrasting picture. Over the last three years, SITE Centers Corp's annual dividend growth rate has dipped to -13.40%. Extending the timeframe to five years, this rate further declines to -23.20% per annum. Over the past decade, the annual dividends per share growth rate has been recorded at -10.80%.
Considering SITE Centers Corp's dividend yield in conjunction with its five-year growth rate, the yield on the cost of the company's stock as of Monday is approximately 1.10%. This figure offers insight into what an investment made five years ago would yield today, factoring in both dividend payments and stock price appreciation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.