Dividends

Annual Dividend History(ex-date basis)

Dividend Yield Metrics

Current Yield

1.30%

Average Yield (TTM)

1.47%

Average Yield (3Y)

2.38%

Forward Yield on Cost (3Y)

1.45%

Forward Yield on Cost (5Y)

1.56%

Forward Yield on Cost (10Y)

1.87%

Payout Ratio Analysis

Payout Ratio (Current)

162.43%

FCF Payout Ratio

76.77%

Payout Ratio (3Y Avg)

243.91%

Payout Ratio (5Y Avg)

365.54%

FCF Payout (3Y Avg)

72.41%

FCF Payout (5Y Avg)

77.33%

For REITs, the net-income payout ratio overstates sustainability — large non-cash depreciation depresses net income, so it often reads >100%. The above (or FFO/AFFO, the REIT-standard basis) is the more meaningful gauge.