CTO Realty Growth, Inc. (CTO), a real estate investment trust, has recently announced a dividend increase for the second quarter of 2023. The company's Board of Directors has authorized a quarterly cash dividend for both its common stock and preferred stock.

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Common Stock Cash Dividend Increase

CTO's Board of Directors has authorized a quarterly cash dividend of $0.38 per share of common stock for the second quarter of 2023. This represents a 1.8% year-over-year increase compared to the dividend declared for the same period in 2022. With the closing price of the common stock on May 19, 2023, this dividend signifies an annualized yield of approximately 9.4%.

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Payment and Record Dates

The Common Stock Cash Dividend is scheduled to be paid on June 30, 2023, to stockholders of record as of the close of business on June 8, 2023.

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Preferred Stock Cash Dividend

In addition to the dividend increase for common stock, CTO's Board of Directors has also authorized a quarterly cash dividend for the company's 6.375% Series A Cumulative Redeemable Preferred Stock. The dividend declared for the second quarter of 2023 amounts to $0.39844 per share. Like the common stock dividend, this preferred stock dividend will also be paid on June 30, 2023, to stockholders of record as of June 8, 2023.

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Members of LevelFields received the alert of this event on May 22, 8:05 AM ET

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