GREENWICH, Conn.--(BUSINESS WIRE)--At their regular meeting yesterday, the Board of Directors of Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) approved an increase in the quarterly dividend rate declared for its Common stock and Class A Common stock. The quarterly dividend rate declared for the Common Stock was increased to $0.25 per share and the quarterly dividend rate declared for the Class A Common stock was increased to $0.28 per share, which represents an annualized increase of $0.02 per share for both classes of common stock. The $0.02 dividend increase represents the twenty-sixth consecutive year that the company has increased total dividends to its shareholders. The Common and Class A Common dividends are payable January 17, 2020 to stockholders of record on January 3, 2020. The dividends declared will represent the 200th consecutive quarterly dividend on common shares declared since the Company began operating in 1969.
The Board of Directors of the company also declared the regular quarterly dividends on the Company’s Series H Preferred Stock and Series K Preferred Stock. The dividends were declared in the amount of $0.390625 for each share of Series H Preferred Stock and $0.4896 for each share of Series K Preferred Stock. The dividend payable on the Series K Preferred Stock includes dividends from and including October 1, 2019, the date of original issue of the Series K Preferred Stock to, but excluding January 31, 2020. The dividends are payable January 31, 2020 to stockholders of record on January 17, 2020.
Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 82 properties containing approximately 5.3 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 199 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 26 consecutive years.