PARAMUS, N.J. - Alexander's, Inc. (NYSE: NYSE:ALX), a real estate investment trust (REIT) with a portfolio of properties in the New York City metropolitan area, declared a quarterly dividend of $4.50 per share on Wednesday. The dividend is scheduled to be paid on August 30, 2024, to shareholders of record as of August 12, 2024.
The announcement reflects the company's ongoing commitment to providing returns to its investors. Alexander's, Inc. specializes in commercial real estate and has a collection of five properties under its management. These properties are strategically located across the highly sought-after New York City market, which has historically been a robust area for real estate investment.
The declaration of dividends is a common practice for REITs, which are required to distribute at least 90% of their taxable income to shareholders annually in the form of dividends. This distribution allows investors to partake in the income generated from the company's real estate investments.
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