W.P. Carey and Its 4 REITs Announce Q1 Dividends

NEW YORK CITY-W.P. Carey & Co. LLC, based here, has declared a quarterly dividend of $0.4225 per share payable on Apr. 12 to shareholders of record on Mar. 30. This translates into $1.69 per share on an annualized basis. Commenting on the dividend, chairman William Polk Carey notes that the firm showed growth in funds from operations throughout 2000, lowering its dividend payout ratio. “This, in turn, effectively provides a margin of safety for our shareholders, while enabling the company to retain earnings to… provide stable current income and prudent investment growth,” he adds.

Several Carey affiliates, REITS that invest in single-tenant commercial properties, have also announced first quarter dividends payable on Apr. 12 to those who held shares on Mar. 30. Carey Institutional Properties Inc. will pay out $20.86 per 100 shares, the 37th quarter its dividend has increased over the prior quarter.