Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of
the nation’s largest owners and operators of omni-channel
grocery-anchored neighborhood shopping centers, today announced
that its Board of Directors (the “Board”) approved a 4.5% increase
to the monthly dividend distributions payable October 2, 2023 and
November 1, 2023 to common stockholders of record as of September
15, 2023 and October 16, 2023, respectively.
The Board approved the distribution at a rate of
$0.0975 per share of the Company’s common stock. When annualized,
this is equal to a rate of $1.17 per share, representing an
increase of 4.5% over the previous annualized rate of $1.12 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: “With a predictable income stream from
monthly dividend distributions, combined with our unique ability to
drive internal and external growth, we believe an investment in
PECO provides shareholders with the right balance of stability and
growth while supporting our ongoing commitment to growing total
shareholder value over the long term.”
Edison added, “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 exclusively owning grocery-anchored
neighborhood shopping centers anchored by the #1 or #2 grocer in a
market and our ability to drive results at the property level
through our integrated and cycle-tested operating platform.”
Connect with PECO: For
additional information, please visit
https://www.phillipsedison.com/
Follow PECO on:Twitter at
https://twitter.com/PhillipsEdison Facebook at
https://www.facebook.com/phillipsedison.co Instagram at
https://www.instagram.com/phillips.edison/; and Find PECO on
LinkedIn at
https://www.linkedin.com/company/phillipsedison&company
About Phillips Edison &
CompanyPhillips Edison & Company, Inc. (“PECO”) is one
of the nation’s largest owners and operators of omni-channel
grocery-anchored shopping centers. Founded in 1991, PECO has
generated strong results through its vertically-integrated
operating platform and national footprint of well-occupied shopping
centers. PECO’s centers feature a mix of national and regional
retailers providing necessity-based goods and services in
fundamentally strong markets throughout the United States. PECO’s
top grocery anchors include Kroger, Publix, Albertsons and Ahold
Delhaize. As of June 30, 2023, PECO managed 294 shopping centers,
including 274 wholly-owned centers comprising 31.4 million square
feet across 31 states and 20 shopping centers owned in one
institutional joint venture. PECO is exclusively focused on
creating great omni-channel, grocery-anchored shopping experiences
and improving communities, one neighborhood shopping center at a
time.
PECO uses, and intends to continue to use, its
Investors website, which can be found at
https://investors.phillipsedison.com, as a means of disclosing
material nonpublic information and for complying with its
disclosure obligations under Regulation FD.
Forward-Looking StatementsThis
press release contains certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The Company intends such forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995 and includes this statement for purposes of complying
with the safe harbor provisions. Such forward-looking statements
can generally be identified by the Company’s use of forward-looking
terminology such as “may,” “will,” “expect,” “intend,”
“anticipate,” “estimate,” “believe,” “continue,” “seek,”
“objective,” “goal,” “strategy,” “plan,” “focus,” “priority,”
“should,” “could,” “potential,” “possible,” “look forward,”
“optimistic,” or other similar words. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this earnings release. Such statements
include, but are not limited to (a) statements about the Company’s
plans, strategies, initiatives, and prospects, and (b)
statements about the monthly dividend and expected payment date.
Such statements are subject to known and unknown risks and
uncertainties, which could cause actual results to differ
materially from those projected or anticipated, including, without
limitation: (i) changes in national, regional, or local economic
climates; (ii) local market conditions, including an oversupply of
space in, or a reduction in demand for, properties similar to those
in the Company’s portfolio; (iii) vacancies, changes in market
rental rates, and the need to periodically repair, renovate, and
re-let space; (iv) competition from other available shopping
centers and the attractiveness of properties in the Company’s
portfolio to its tenants; (v) the financial stability of the
Company’s tenants, including, without limitation, their ability to
pay rent; (vi) the Company’s ability to pay down, refinance,
restructure, or extend its indebtedness as it becomes due; (vii)
increases in the Company’s borrowing costs as a result of changes
in interest rates and other factors; (viii) potential liability for
environmental matters; (ix) damage to the Company’s properties from
catastrophic weather and other natural events, and the physical
effects of climate change; (x) the Company’s ability and
willingness to maintain its qualification as a REIT in light of
economic, market, legal, tax, and other considerations; (xi)
changes in tax, real estate, environmental, and zoning laws; (xii)
information technology security breaches; (xiii) the Company’s
corporate responsibility initiatives; (xiv) loss of key executives;
(xv) the concentration of the Company’s portfolio in a limited
number of industries, geographies, or investments; (xvi) the
economic, political, and social impact of, and uncertainty relating
to, pandemics or other health crises; (xvii) the Company’s ability
to re-lease its properties on the same or better terms, or at all,
in the event of non-renewal or in the event the Company exercises
its right to replace an existing tenant; (xviii) the loss or
bankruptcy of the Company’s tenants; (xix) to the extent the
Company is seeking to dispose of properties, the Company’s ability
to do so at attractive prices or at all; and (xx) the impact of
inflation on the Company and on its tenants. Additional important
factors that could cause actual results to differ are described in
the filings made from time to time by the Company with the SEC and
include the risk factors and other risks and uncertainties
described in the Company’s 2022 Annual Report on Form 10-K, filed
with the SEC on February 21, 2023, as updated from time to time in
the Company’s periodic and/or current reports filed with the SEC,
which are accessible on the SEC’s website at www.sec.gov.
Therefore, such statements are not intended to be a guarantee of
the Company’s performance in future periods.
Except as required by law, the Company does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
Investors:Kimberly Green, Head
of Investor Relations (513) 692-3399, kgreen@phillipsedison.com
Media:Cherilyn Megill, Chief Marketing
Officer(801) 415-4373, cmegill@phillipsedison.com
Grafico Azioni Phillips Edison (NASDAQ:PECO)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Phillips Edison (NASDAQ:PECO)
Storico
Da Mag 2023 a Mag 2024