Payout Boost: Allied ups distribution

Article Excerpt

ALLIED PROPERTIES REIT $35 (Toronto symbol AP.UN; Cyclical-Growth Dividend Payer Portfolio, Manufacturing & Industry sector; Units outstanding: 84.7 million; Market cap: $3.0 billion; Dividend Sustainability Rating: Above Average; Price-to-sales ratio: 7.8; Dividend yield: 4.4%; www.alliedreit.com) owns 148 office buildings in Canada. With the January 2017 payment, Allied raised its monthly distribution by 2.0% to $0.1275 from $0.125. The new annualized distribution of $1.53 per unit yields 4.4%. The trust pays out about 67% of its cash flow as distributions. Allied has increased its payout every year since it first sold units to the public and began trading in February 2003 at $10 per unit. Allied REIT is a buy. Our Canadian Wealth Advisor offers more on Allied REIT. REIT…

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