KBS Growth & Income REIT board of directors approved an increase to its dividend.
The new daily distribution rate of $0.00144493 per share is payable to stockholders of record each day commencing May 1, 2018, through May 31, 2018. This daily amount would equal a 6 percent annualized rate based on the Dec. 8, 2017, estimated value per share of $8.79 if paid each day for a 365-day period. The company is currently paying a 5.5 percent annualized dividend.
“The strong performance of KBS Growth & Income REIT has enabled us to reward shareholders with an increase to our regular dividend,” said Chuck Schreiber, KBS CEO. “This is a direct reflection of the success of our active asset management and underscores the excellent execution of our strategy to acquire properties in premier locations, effectively manage these assets, and secure top-tier tenants.”
“In addition to KBS Growth & Income REIT, KBS is developing new offerings for investors, which will be available on KBSDirect.com, KBS’ online investment platform,” said Lew Feldman, president of KBS Direct.
