Educational Realty Trust Hikes Dividend 3%, Provides 3.3% Yield

Education Realty Trust, Inc.EDR

said its board has approved a quarterly cash dividend of $0.38 per share of common stock. This represented an increase of 3 percent, and the increase is the sixth straight increase in dividend. On an annualized basis, this works out to $1.52 a share.

The dividend provided 3.3 percent yield, which was slightly lower than the average 3.50 percent yield for the five-year period. As a result of continuous increase in dividend in the last five year, its average growth rate for the five-year period was 10.13 percent and for the year period it was 24.91 percent.

Education Realty Trust said that July 29 has been fixed as the record date and that the dividend would be payable August 15.

At time of writing, the stock edged down 0.15 percent on the day to $46.37.

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