UMH PROPERTIES, INC. ANNOUNCES DIVIDEND INCREASE
January 11 2023 - 4:30PM
On January 11, 2023, the Board of Directors of UMH Properties, Inc.
(NYSE:UMH) announced today that its Board of Directors approved a
2.5% increase in the Company’s quarterly common stock dividend,
raising it to $0.205 per share from $0.20 per share. The dividend
is payable March 15, 2023, to shareholders of record at the close
of business on February 15, 2023. This represents an annual
dividend rate of $0.82 per share.
Samuel A. Landy, President and Chief Executive
Officer, commented, “We are pleased to announce a third consecutive
annual increase of our common stock dividend. UMH is well
positioned for earnings growth as a result of the redemption of our
preferred stock and our solid community operating performance. We
have inventory of homes available for sale and rent that should
lead to increased occupancy, revenue and sales profits in the short
term. The economic environment is uncertain and challenging, but we
anticipate continued strong demand for our product and hope to be
in a position for additional future dividend increases.”
UMH Properties, Inc., which was organized in
1968, is a public equity REIT that owns and operates 134
manufactured home communities containing approximately 25,600
developed homesites. These communities are located in New Jersey,
New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan,
Maryland, Alabama and South Carolina. UMH also has an ownership
interest in and operates two communities in Florida, containing 363
sites, through its joint venture with Nuveen Real Estate.
Contact: Nelli
Madden732-577-9997
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