Dividend Changes to Know Now: Avalonbay Communities, BankUnited, SL Green Realty, Alexandria Real Estate Equities, RGC Resources
Avalonbay Communities Inc. (NYSE:AVB): Avalonbay expects to increase the common stock dividend for the first quarter of 2013 by a range of between 8% and 12%. This increase is supported by AvalonBay’s current operating platform and recent operating trends, the expectation for continued favorable apartment fundamentals in 2013 and the acquisition of the Archstone portfolio described in this press release. The payment of any dividend, however, is subject to the approval of the Board of Directors and there can be no assurance that economic conditions generally and/or their impact on our operating results and payout ratio will not lead us to change our expectations.
BankUnited (NYSE:BKU): BankUnited announced that its board has declared a quarterly cash dividend of 21c per common share and 21c per Preferred Stock share, an increase of 4c, or 24%, from the previous quarterly dividend of 17c per common share and Preferred Stock share. The dividend will be payable on December 27 to stockholders of record at the close of business on December 13.
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SL Green Realty Corp. (NYSE:SLG): SL Green Realty reported that its board of directors increased the Company’s quarterly dividend by 32% and declared a dividend of 33c per share of common stock for the quarter ending December 31. The dividend is payable on January 15, 2013 to shareholders of record at the close of business on January 2, 2013.
Alexandria Real Estate Equities Inc. (NYSE:ARE): Alexandria Real Estate increases quarterly dividend by 6%. The board increases quarterly dividend to 56c per share. The dividend is payable on January 15, 2013 to shareholders of record on December 31.
RGC Resources Inc. (NASDAQ:RGCO): RGC Resources raises quarterly dividend to 18c from 17.5c. RGC Resources said its board declared a quarterly dividend of 18c per share on the company’s common stock. The indicated annual dividend is 72c per share, a 2c per share increase over the prior annual level. The dividend will be paid on February 1, 2013 to shareholders of record on January 15, 2013.