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.
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