Phillips Edison increases monthly dividend distribution by 5.1% to 10.25c p/s

Phillips Edison & Company announced that its Board of Directors approved a 5.1% increase to the monthly dividend distributions payable October 1, and November 1, to common stockholders of record as of September 16 and October 15 respectively. The Board approved the distribution at a rate of 10.25c per share of the Company’s common stock. When annualized, this is equal to a rate of $1.23 per share, representing an increase of 5.1% over the previous annualized rate of $1.17 per share. Operating partnership unit holders receive distributions at the same rate as common stockholders, subject to the required tax withholding. Jeff Edison, Chairman and Chief Executive Officer of PECO stated: “The continued strength of our operating performance and growth of our cash flows allow us to increase our monthly dividend distribution once again. This increase is attributed to the success of our differentiated and focused strategy of owning right-sized, high-quality, grocery-anchored neighborhood shopping centers, the PECO team’s ability to drive results at the property level and the many advantages of the suburban markets where we operate our centers. The PECO team is well positioned to continue to deliver solid earnings growth, market-leading operating metrics and long-term value creation.”