The dividend is payable Oct. 23 to shareholders of record Oct. 13. Based on Tuesday's closing price of $39.40, the yield on the indicated annualized rate of $2.44 per share is 6.2%. Southfield-based Sun Communities has 18.9 million shares outstanding.
The company said it will release its third quarter results on Thursday, Oct. 30, prior to the opening of the market.
Sun Communities currently owns and operates a portfolio of 130 communities mainly in the Midwest and Southeast US. The company's properties are comprised of over 44,500 developed sites and approximately 7,025 additional sites available for development.
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