HOUSTON, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Whitestone REIT (NYSE:WSR) ("Whitestone" or the "Company") today announced that its Board of Trustees has declared a monthly cash dividend of $0.04 per share on the Company's common shares and operating partnership units for the first quarter of 2024. The dividend increase represents a quarterly amount of $0.12 per share, and an annualized amount of $0.48 per share.
"We are focused on delivering consistent growth, driven by very strong leasing spreads and near-record occupancy, as we shared during our 3rd quarter earnings call," said Dave Holeman, Whitestone's CEO. "We believe we are very well positioned to provide strong returns to shareholders through earnings growth, multiple expansion and monthly dividends, given our convenience focused tenant base and 100% targeted sunbelt geography, and look forward to providing 2024 earnings guidance on our 4th quarter earnings call."
The first quarter dividend distribution for 2024 will be as detailed below:
Month | Record Date | Payment Date | Distribution per Share/Unit | |
January | 1/4/2024 | 1/11/2024 | $ | 0.04 |
February | 2/2/2024 |