W.P. Carey to spin-off Office assets to a new REIT

W. P. Carey Inc. (W. P. Carey, NYSE: WPC) today announced that its Board of Directors has unanimously approved a plan to exit the office assets within its portfolio by (i) spinning-off 59 office properties into Net Lease Office Properties ("NLOP"), so that it will become a separate publicly-traded REIT (the "Spin-Off"), and (ii) implementing an asset sale program to dispose of 87 office properties retained by W. P. Carey (the "Office Sale Program"). The Spin-Off is expected to close on or around November 1, 2023, subject to the satisfaction of certain conditions, and all sales under the Office Sale Program are targeted to be completed by January 2024.

The Spin-Off, which does not require shareholder approval, is expected to close on or around November 1, 2023, subject to certain closing conditions. Upon completion, W. P. Carey stockholders as of the record date for the Spin-Off will receive shares of NLOP via a pro rata special distribution, which is expected to be taxable for U.S. federal income tax purposes. Shares of NLOP are expected to trade on the New York Stock Exchange under the ticker symbol NLOP.

 WPC also announced that dividend will be decreased after this spin-off which is understandable. Lets see how big dividend will be for WPC and NLOP after this spin-off

 

 

Dividend increase #38 of 2023 : Fortis Inc.

The Board of Directors of Fortis declared a common share dividend of $0.59 per share on the issued and outstanding fully paid common shares of the Corporation, representing an approximate 4.4% increase in the quarterly dividend, payable on December 1, 2023 to the common Shareholders of Record at the close of business on November 17, 2023, marking 50 consecutive years of increased dividends.

 

Dividend increase #37 of 2023 : W.P. Carey Inc.

W. P. Carey Inc. (W. P. Carey, NYSE: WPC) reported today that its Board of Directors increased its quarterly cash dividend to $1.071 per share, equivalent to an annualized dividend rate of $4.28 per share. The dividend is payable on October 16, 2023 to stockholders of record as of September 29, 2023.

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate.

Like a clockwork, quarterly increases continue year over year. I like.

 

 

Dividend increase #36 of 2023 : Trinity Capital Inc.

 Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced that on September 13, 2023, its Board of Directors declared a cash dividend of $0.54 per share with respect to the quarter ending September 30, 2023, consisting of a regular quarterly dividend of $0.49 per share and a supplemental cash dividend of $0.05 per share. The dividend represents an increase of 2.1% over the regular dividend declared in the prior quarter.

The Company's Board of Directors has authorized the supplemental cash dividend in order to comply with regulated investment company tax requirements for distributing its undistributed taxable income from fiscal 2023.   

 

Dividend increase #35 of 2023 : Realty Income Corporation

Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company^®, today announced it has declared an increase in the company's common stock monthly cash dividend to $0.2560 per share from $0.2555 per share. 

The dividend is payable on October 13, 2023, to stockholders of record as of October 2, 2023. This is the 122^nd dividend increase since Realty Income's listing on the NYSE in 1994. 

The ex-dividend date for October's dividend is September 29, 2023. The new monthly dividend represents an annualized dividend amount of $3.072 per share as compared to the prior annualized dividend amount of $3.066 per share.

 

New purchase : Saratoga Investment Corporation

A new position initiated in portfolio with a purchase of 45 shares of Saratoga Investment Corporation (NYSE:SAR). 

Saratoga Investment Corp. is a specialty finance company. The Company provides customized financing solutions to United States middle-market businesses. It primarily invests in senior and unitranche-leveraged loans and mezzanine debt and, to a lesser extent, equity issued by private United States middle-market companies. Its investment objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its investments. Its investments generally provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Its portfolio is comprised primarily of investments in leveraged loans issued by middle market companies. It also invests in mezzanine debt and makes equity investments in middle market companies. Its investment activities are externally managed and advised by Saratoga Investment Advisors, LLC.

 

Dividend increase #34 of 2023 : Verizon Communications Inc.

The Board of Directors at Verizon Communications Inc. (NYSE, Nasdaq: VZ) today declared a quarterly dividend of 66.50 cents per outstanding share, an increase of 1.25 cents per share from the previous quarter. The quarterly dividend is payable on November 1, 2023, to Verizon shareholders of record at the close of business on October 10, 2023.

This is the 17th consecutive year Verizon’s Board has approved a quarterly dividend increase.

“Our consistently disciplined approach to driving strong cash flow, operating the business, and serving our customers has once again put the Board in a position to raise the dividend,” said Chairman and CEO Hans Vestberg. “We continue to deliver value to our shareholders as we execute our network-as-a-service strategy.”

 

Status report : August 2023

 Dividends received in August

- 22.43 from Medifast Inc.
- 25.25 from AT&T 
- 7.99 from Lowes Companies
- 49.11 from Verizon Communications
- 11.25 from Nokia 
- 22.45 from AGNC Investment
- 23.75 from National_Health_Investors 
- 37.90 from Emera Inc.
- 62.38 from Omega Healthcare
- 56.74 from AbbVie Inc.
- 15.91 from Realty Income
- 9.28 from EPR Properties
- 20.22 from Main Street
- 14.93 from Prospect Capital
- 27.10 from Telia Company
- 33.19 from Royal_Bank_of_Canada 
- 19.98 from Bank_of_Montreal 
- 13.13 from LTC Properties
- 12.38 from Orchid Island
- 22.57 from Gladstone Investment_Corp
- 11.60 from Gladstone Commercial_Corp
- 24.34 from Gladstone Capital_Corp

This makes a total of 543.88 in dividends received from 22 companies. Previous year I received 536.10 in August. This is a 1.45%% change in dividends. Change is small due to sales that I had to made last year for B stocks. Still building up after that.

Progress report : August 2023

Quote	2020	2021	2022	2023	1y chg	2y chg	3y chg
Medifast Inc.	-	-	-	22.43
AT&T	33.06	43.77	27.11	25.25	-6.86%	-42.3%	-23.6%
Lowes Companies	-	-	-	7.99
Verizon Communications	20.32	25.80	42.45	49.11	15.69%	90.35%	141.6%
Nokia	-	-	7.50	11.25	50.00%
AGNC Investment	9.27	15.99	24.14	22.45	-7.00%	40.40%	142.1%
National_Health_Investors	26.93	22.00	25.45	23.75	-6.68%	7.95%	-11.8%
Enterprise Products	21.83	22.14	26.91	-	-100.%	-100.%
Emera Inc.	-	8.59	32.74	37.90	15.76%	341.2%
Alliance Resource	-	4.07	18.76	-	-100.%
Golar LNG	0.80	-	-	-
Omega Healthcare	57.69	58.10	66.51	62.38	-6.21%	7.37%	8.13%
AbbVie Inc.	28.88	40.68	57.64	56.74	-1.56%	39.48%	96.47%
Realty Income	7.49	10.59	12.93	15.91	23.05%	50.24%	112.4%
Pembina Pipeline	-	7.93	14.37	-	-100.%
EPR Properties	-	7.82	9.90	9.28	-6.26%	18.67%
Main Street	14.88	14.95	18.23	20.22	10.92%	35.25%	35.89%
Lazard Ltd	15.88	18.45	22.74	-	-100.%	-100.%
Prospect Capital	11.15	11.30	16.06	14.93	-7.04%	32.12%	33.90%
Telia Company	-	-	-	27.10
Royal_Bank_of_Canada	17.98	18.92	25.71	33.19	29.09%	75.42%	84.59%
Bank_of_Montreal	-	-	-	19.98
LTC Properties	11.91	12.08	14.21	13.13	-7.60%	8.69%	10.24%
Crestwood Equity	31.79	33.23	38.39	-	-100.%	-100.%
Orchid Island	-	23.14	18.99	12.38	-34.8%	-46.5%
Gladstone Investment_Corp	-	1.77	15.36	22.57	46.94%	1175.%
Gladstone Commercial_Corp	-	-	-	11.60
Gladstone Capital_Corp	-	-	-	24.34
Total	309.86	401.32	536.10	543.88	1.45%	35.52%	75.52%

Gladstone Investment Corporation to pay supplemental dividend in September

Gladstone Investment Corporation (Nasdaq:GAIN) has announced that its board of directors declared the following monthly cash distributions to common stockholders. The Company also announced its plan to report earnings for its first fiscal quarter ended June 30, 2023.

Common Stock: $0.08 per share of common stock for each of July, August and September 2023, and a supplemental distribution of $0.12 per share of common stock in September 2023, all payable per the table below.

Record Date	Payment Date	Cash Distribution
July 21	July 31	$0.08
August 23	August 31	$0.08
September 7	September 15	$0.12*
September 21	September 29	$0.08
Total for the Quarter:		$0.36

*Denotes supplemental distribution to common stockholders