By Dean Seal
Shares of COPT Defense Properties jumped Friday after the company raised its quarterly dividend by a penny to 30.5 cents a share.
The stock was up 8.1% at $28.89 in premarket trading. Shares had fallen 14% year-to-date when the market closed yesterday.
The real estate investment trust said after the bell on Thursday that the new dividend would be paid on April 16 to shareholders of record as of March 31, the end of the first quarter.
On an annualized basis, the new payout is $1.22 a share and represents a yield of about 4.6% based on Thursday's closing price of $26.73.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 21, 2025 06:34 ET (11:34 GMT)
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