Phillips Edison & Company, Inc. Announces Monthly Distribution, Payable on November 1, 2021
September 28, 2021 at 08:30 am EDT
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Phillips Edison & Company, Inc. announced that its Board of Directors unanimously approved a 6% increase to the monthly distribution payable November 1, 2021 to stockholders of record at the close of business on October 15, 2021. The Board approved the distribution at a rate of $0.09 per share of the Company’s common stock, Class B common stock, and operating partnership units. When annualized, this is equal to a rate of $1.08 per share, representing an increase of 6% over the previous annualized rate of $1.02 per share.
Phillips Edison & Company, Inc. is a real estate investment trust (REIT). The Company's business is conducted through Phillips Edison Grocery Center Operating Partnership I, L.P. (the Operating Partnership). The Company owns and operates omni-channel grocery-anchored shopping centers. Additionally, it operates a third-party investment management business providing property management and advisory services to two unconsolidated institutional joint ventures and one private fund. Its portfolio primarily consists of neighborhood centers anchored by the #1 or #2 grocer tenants by sales within their respective formats by trade area. Its centers feature a mix of national and regional retailers providing goods and services throughout the United States. The Company manages approximately 301 shopping centers, including 281 wholly owned centers comprising 32.2 million square feet across 31 states and 20 shopping centers owned in one institutional joint venture.
PHILLIPS EDISON & COMPANY, INC. 
