EX-Dividend Schedule: Kimco Realty Has a Dividend Yield of 6.42%; Will Trade Ex-Dividend on July 02, 2018

LONDON, UK / ACCESSWIRE / June 29, 2018 / Active-Investors has a free review on Kimco Realty Corp. (NYSE: KIM) following the Company’s announcement that it will begin trading ex-dividend on July 02, 2018. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on June 28, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on KIM:

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Dividend Declared

On April 26, 2018, Kimco’s Board of Directors declared a quarterly cash dividend of $0.28 per common share, payable on July 16, 2018, to shareholders of record on July 03, 2018.

Kimco’s indicated dividend represents a yield of 6.42%, which is more than double compared to the average dividend yield of 3.07% for the financial sector. The Company raised its dividend for eight years in a row.

Dividend Insights

Kimco has a dividend payout ratio of 77.2%, which denotes that the Company distributes approximately $0.77 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Kimco is forecasted to report earnings of $0.65 for the upcoming year compared to the Company’s annualized dividend of $1.12. One of the primary reasons for the difference between earnings and annualized dividend is that Kimco is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.

Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization (D&A) to earnings and subtracting any gains on sales which then provides a better picture of any company’s profitability and capacity to pay and to sustain dividends. For instance, Kimco’s net income available to its common shareholders was $129.5 million, or $0.30 per diluted share, for Q1 2018 compared to $65.2 million, or $0.15 per diluted share, for Q1 2017.

On the other hand, Kimco’s NAREIT FFO was $164.9 million, or $0.39 per diluted share, for Q1 2018, compared to $155.1 million, or $0.37 per diluted share, for Q1 2017. The Company’s FFO number indicates that AvalonBay should be able to comfortably cover its dividend payout.

Recent Development for Kimco

On June 04, 2018, Kimco announced that Lowe’s Home Improvement, Marshalls, TJX’s new HomeSense concept, Burlington, and Five Below will join the tenant lineup at Mill Station, the Company’s $108 million Signature Series development on the site of the former Owings Mills Mall in Baltimore County, Maryland. Kimco stated that with these newly announced retailers, in addition to Costco and AMC Theatre, the project is now over 75% preleased, and construction has commenced.

Kimco’s approximately 620,000-square-foot Mill Station development will feature up to 30 retailers and restaurants in a modern, open layout with green space and a network of walkways connecting to existing office and retail space.

About Kimco Realty Corp.

Kimco is a REIT headquartered in New Hyde Park, New York, and it is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of March 31, 2018, the Company owned interests in 475 US shopping centers comprising 81 million square feet of leasable space primarily concentrated in the top major metropolitan markets.

Stock Performance Snapshot

June 28, 2018 – At Thursday’s closing bell, Kimco Realty’s stock slightly dropped 0.47%, ending the trading session at $17.07.

Volume traded for the day: 3.42 million shares.

Stock performance in the last month – up 10.92%; and previous three-month period – up 18.54%

After yesterday’s close, Kimco Realty’s market cap was at $7.23 billion.

Price to Earnings (P/E) ratio was at 25.29.

The stock has a dividend yield of 6.56%.

The stock is part of the Financial sector, categorized under the REIT – Retail industry. This sector was up 0.8% at the end of the session.

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