JLL Income Property Trust Increases Quarterly Dividend
The board of Jones Lang LaSalle Income Property Trust, a daily net asset value real estate investment trust, has declared a dividend for the first quarter of 2022.
The board of Jones Lang LaSalle Income Property Trust, a daily net asset value real estate investment trust, has declared a dividend for the first quarter of 2022 of $0.14 per share, a 3.7 percent increase from the prior quarter’s $0.135 per share.
This represents the seventh dividend increase since the REIT’s inception in 2012 and will be the 41st consecutive dividend paid to its stockholders.
The dividend will be paid around March 31, 2022 to stockholders of record as of March 24, 2022. On an annualized basis, this gross dividend is equivalent to $0.56 per share and represents a yield of approximately 4.0 percent on a NAV per share of $13.95 as of February 28, 2022.
The company noted that all stockholders will receive $0.14 per share less applicable share class specific fees, and the annualized yield will differ based on the share class.
“We are pleased to once again enhance the current return to our stockholders through this increased dividend and demonstrate our ongoing commitment to providing attractive, risk-adjusted returns,” said Allan Swaringen, president and chief executive officer. “We’ve achieved consistent growth over the past decade, with 2021 representing our strongest performance since inception, having generated nearly a 22 percent annual return for investors, of which 4.5 percent represented income.”
Jones Lang LaSalle Income Property Trust (NASDAQ: ZIPTAX; ZIPTMX; ZIPIAX; ZIPIMX) oversees a $5.9 billion portfolio of residential, industrial, office and grocery-anchored retail properties. The REIT launched in October 2012 and has raised nearly $2.7 billion in investor equity as of January 2022.
