New York REIT (NYSE:NYRT) declared a special dividend on Thursday, May 3rd, Wall Street Journal reports. Shareholders of record on Friday, May 11th will be paid a dividend of 4.85 per share by the real estate investment trust on Friday, May 18th. The ex-dividend date is Thursday, May 10th.
New York REIT has increased its dividend by an average of 115.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. New York REIT has a payout ratio of 6,153.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
New York REIT traded down $0.01, reaching $17.74, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 5,015 shares, compared to its average volume of 177,202. New York REIT has a 1-year low of $17.61 and a 1-year high of $17.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 18.77 and a quick ratio of 18.77.
New York REIT Company Profile
NYRT is a publicly traded real estate investment trust listed on the NYSE that owns income-producing commercial real estate, including office and retail properties, located in New York City. NYRT's shareholders recently adopted a plan of liquidation pursuant to which NYRT is liquidating and winding down and, in connection therewith, is seeking to sell its assets in an orderly fashion to maximize shareholder value.
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