STORE Capital (STOR) Raises Quarterly Dividend 2.9% to $0.36; Expects to Complete $300 million to $425 million of Real Estate Acquisitions in Second Half of Year

STORE Capital (NYSE: STOR) declared a quarterly dividend of $0.36 per share, or $1.44 annualized. This is a 2.9% increase from the prior dividend of $0.35.

The dividend will be payable on October 15, 2020, to stockholders of record on September 30, 2020, with an ex-dividend date of September 29, 2020.

The annual yield on the dividend is 5.1 percent.

Additionally, the Company announced that it expects to complete between $300 million to $425 million of real estate acquisitions, net of sales, in the second half of fiscal 2020. This would bring total net acquisition volume for full year 2020 to a range of $625 million to $750 million.

“We are very encouraged by our progress and that of our tenants over the past five months, which has collectively given our Board the confidence to raise our dividend,” said Christopher H. Volk, Chief Executive Officer of STORE Capital. “At the same time, we have maintained a healthy acquisition pipeline exceeding $12 billion throughout the pandemic, together with sustained balance sheet and liquidity strength. With our ability to source real estate acquisitions that benefit our customers and are accretive to our stockholders, we are happy to reinitiate investment guidance for the year. We look forward to the opportunity to return our growth to historic levels in 2021 as the impacts from the pandemic on business continue to abate.”

For a dividend history and other dividend-related data on STORE Capital (STOR) click here.

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