National Retail Properties hikes dividend by 3.8%

National Retail Properties (NNN) will raise its quarterly dividend by 3.8 percent to 55 cents per share in 2022. This marks 33 consecutive years of increased dividends by the REIT. NNN is one of only three publicly traded REITs and 86 publicly traded companies in America to have increased annual dividends for 33 or more consecutive years. 

The next NNN dividend is payable August 15, 2022 to common shareholders of record on July 29, 2022. The new dividend yield for NNN is 5.0% at a stock price of $44.34.

Steve Horn, Chief Executive Officer, commented: "We are pleased to make 2022 our 33rd consecutive year of annual dividend increases.  Our multi-year approach, disciplined capital deployment, and strong, flexible balance sheet have enabled us to, once again, withstand macroeconomic uncertainty and continue this impressive track record of consistent growth."

National Retail Properties (NNN) is a fully integrated real estate investment trust formed in 1984. NNN acquires, owns, invests in and develops properties that are leased primarily to retail tenants under long-term net leases and are primarily held for investment. NNN focuses on investing in a range of property and tenant types; leases, mortgages and other types of real estate interests; loans secured by personal property; loans secured by partnership or membership interests in partnerships or limited liability companies, and securities of other REITs, or other issuers, including for the purpose of exercising control over such entities.