Friday, January 24, 2014
Dividend Increase: ARCP
American Realty Capital Properties (ARCP) is increasing its monthly dividend by 6.4%, from $0.07833 to $0.08333 per share, in light of the pending closing of its merger with Cole Real Estate Investments (news release). Given that I own 170 shares of ARCP, my monthly dividend increases from $13.32 to $14.17 and my yield on cost becomes 7.72%. The extra $10.20 in annual dividend income raises my forward 12-month dividend total to $4,033.
Subscribe to:
Post Comments (Atom)
great news!!
ReplyDeleteFFd: Indeed -- it's a nice boost to an already high yield.
DeleteA welcome, albeit expected, dividend increase! I was able to pick up an additional 80 shares earlier this month before the price spiked over the last week or so. Nothing wrong with that kind of dividend growth on a high yielding investment!
ReplyDeletew2r: Nice job on your purchase. I wish I had bought more shares back when the stock traded below $13, but at that point I was satisfied with the overall allocation to REITs in my portfolio. However, I will continue to look for good opportunities to add to my position.
DeleteI am a huge fan of ARCP and this dividend increase is quite welcome :)
ReplyDeleteDMU: I've become a fan of ARCP, too. I hope it turns into a great long-term dividend growth stock in the REIT space.
DeleteIIRC they plan to pay out $1.08 when all the current mergers are done. I am expecting a second raise this year.
ReplyDeletePMU: Good point -- I will stay on the lookout for subsequent increases this year.
Delete