Growing Earnings, Ensuring Investor Value: City Office REIT Adjusts Dividends with Consistent Growth
By the end of today, January 24, 2024, City Office REIT (NYSE:CIO) is set to deliver a dividend payout of $0.10 per share, equating to an annualized dividend yield of 6.02%. The company's dividend payout went ex-dividend on January 09, 2024, so only the investors that owned the stock prior to the ex-dividend date will receive this payout.
City Office REIT Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2024-01-09 | 4 | $0.1 | 6.02% | 2023-12-15 | 2024-01-10 | 2024-01-24 |
| 2023-10-06 | 4 | $0.1 | 7.86% | 2023-09-15 | 2023-10-10 | 2023-10-24 |
| 2023-07-06 | 4 | $0.1 | 7.17% | 2023-05-05 | 2023-07-07 | 2023-07-21 |
| 2023-04-10 | 4 | $0.2 | 10.83% | 2023-03-14 | 2023-04-11 | 2023-04-25 |
| 2023-01-09 | 4 | $0.2 | 8.65% | 2022-12-15 | 2023-01-10 | 2023-01-24 |
| 2022-10-06 | 4 | $0.2 | 7.09% | 2022-09-15 | 2022-10-07 | 2022-10-21 |
| 2022-07-07 | 4 | $0.2 | 6.84% | 2022-06-16 | 2022-07-08 | 2022-07-22 |
| 2022-04-07 | 4 | $0.2 | 4.72% | 2022-03-15 | 2022-04-08 | 2022-04-22 |
| 2022-01-10 | 4 | $0.2 | 4.49% | 2021-12-17 | 2022-01-11 | 2022-01-25 |
| 2021-10-07 | 4 | $0.15 | 3.58% | 2021-09-16 | 2021-10-08 | 2021-10-22 |
| 2021-07-08 | 4 | $0.15 | 4.71% | 2021-06-15 | 2021-07-09 | 2021-07-23 |
| 2021-04-08 | 4 | $0.15 | 5.85% | 2021-03-24 | 2021-04-09 | 2021-04-23 |
With a dividend yield that places it neither at the top nor the bottom, City Office REIT finds itself in the middle among its industry peers, while Office Props IT (NASDAQ:OPI) boasts the highest annualized dividend yield at 21.11%.
Analyzing City Office REIT Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
From 2020 to 2023, the company experienced a reduction in its dividend per share, decreasing from $0.60 to $0.50. This decline in dividends may raise concerns among investors and warrants further analysis to understand the factors contributing to this negative trend.
YoY Earnings Growth For City Office REIT
From 2020 to 2023, City Office REIT experienced a growth in earnings per share, with an increase from $1.15 to $1.44. This positive earnings trend indicates the company's potential to enhance their cash dividend payout, which can benefit income-seeking investors.
Recap
This article takes an in-depth look at City Office REIT's recent dividend payout and its implications for shareholders. The company is currently distributing a dividend of $0.10 per share today, translating to an annualized dividend yield of 6.02%.
With a dividend yield that places it neither at the top nor the bottom, City Office REIT finds itself in the middle among its industry peers, while Office Props IT boasts the highest annualized dividend yield at 21.11%.
The declining dividend per share and rising earnings per share of City Office REIT from 2020 to 2023 indicate a deliberate decision to prioritize reinvestment of profits into the company's operations over dividend payments.
It is essential for investors to closely track the company's performance in the coming quarters to remain updated regarding any alterations in financials or dividend disbursements.
[Click here](https://www.benzinga.com/stock//dividends) to find details on City Office REIT's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.