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Real estate investment trust AvalonBay Communities (NYSE: AVB ) announced yesterday its second-quarter dividend of $1.07 per share, the same rate it paid last quarter after raising the payout 10%, from $0.97 per share.
The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 28. The REIT has consistently paid dividends each year since going public in 1994.
The regular dividend payment equates to a $4.28-per-share annual dividend, yielding 3.1% based on the closing price of AvalonBay Communities' stock on May 22.