Year. The monthly dividend rate is slated to drop to 8 cents per month starting next year, a 33% decrease, meaning that investors who buy RioCan stock at today’s price can expect a dividend yield of just 5% instead of the 36% 8%, who mostly enjoyed this year Distribution. Did Riocan cut its distribution because its assets are in trouble? World News – CA – “Hanging by Our Nails”: Province Tends to Lockdown the York Region, Doc Says; World News – CA – Ontario is keeping the York region out of lockdown but is moving three more regions to tighter zones as part of the COVID-19 response framework View Entire Discussion (3 Comments) More posts from the dividends community. Residential REITs could be in a better position, but not by much. Since their first increase, the REIT has maintained an AFFO payout ratio of around 70%. $1.55. Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. The dividend cut is a prudent move by REI. RioCan’s units initially dropped 10 per cent in early Friday trading, before closing down 2 per cent at $17.65. Finding the right income opportunity in 2020. This impacts other commercial landlords too. Businesses of all sizes have suffered this year. If you’re still seeking a high dividend yield and passive income, the utilities or telecom sector would be better bets. Frequency: Monthly. The actual number is likely lower, as many investors choose to receive new shares instead of dividends. ... RioCan Real Estate Investment(REI.UN-T) Frequently Asked Questions Returns since inception, October 2013. Most REIT dividend cuts will be temporary, as the economy will return to normal eventually after the pandemic passes. H&R REIT cut their dividend this May 14th, a Thursday, when the stock closed at $8.54. 1995. After a severe dividend cut during the last financial crisis (it showed an AFFO payout ratio of 300% in 2010), IIP started its dividend growth policy back up in 2012 and hasn't missed a year since. As it stands today, RioCan pays out $38 million per month in dividends. RioCan Real Estate Investment Trust (TSX:REI.UN) dropped 6% this morning. The telecom sector, for instance, has held up remarkably well during this crisis. After a severe dividend cut during the last financial crisis (it showed an AFFO payout ratio of 300% in 2010), IIP started its dividend growth policy back up in 2012 and hasn’t missed a year since. Most of RioCan’s largest tenants are doing just fine, with grocery stores and pharmacies dominating that list. The Motley Fool recommends Smart REIT. All rights reserved. That’s because I believe personal finance is very personal. It’s already had a big impact on the company. When to sell a stock after a dividend cut. RioCan Real Estate Investment Trust (OTCPK:RIOCF) declares CAD 0.12/share monthly dividend, in line with previous.Forward yield 8.09%Payable Jan. Yield: 8.09%. RioCan stock’s hefty exposure to the commercial real estate sector is a key reason why the dividend payout is being cut. Data usage has skyrocketed as everyone works from home. Effective February 10, 1998, RioCan's Trust Units were divided on a two-for-one basis. They’re just as likely to sustain their payouts in 2021 and beyond. Market Cap: 5.65B. Market Research. Investors are dumping the stock after it announced a dividend cut for the year ahead. Investors are dumping the stock after it announced a dividend cut for the year ahead. Looking for more quality stocks? A dividend is removed today from RioCan Real Estate Investment Trust's share. This is your chance to get in early on what could prove to be very special investment advice. You can find more details by going to one of the sections under this page such as ex-date, dividend and payment date. Here's why I'm not one of them. Investors are beginning to worry about RioCan REIT (TSX:REI.UN) and it's 10.5% yield. RIOCAN REAL ESTATE INVESTMENT TRUST $27.07, is a buy. Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. But on Friday of this week RioCan cut its dividend by some 33%. The chief executive officer of RioCan Real Estate Investment Trust has a message for investors: The company’s distributions are safe. Canada’s unemployment rate is still stubbornly high and government benefit programs are gradually coming to an end. Let’s take a closer look. Fool contributor Vishesh Raisinghani has no position in any of the stocks mentioned. Unfortunately in my haste I forgot to mention the new dividend for the next payout will be down to .08 a share! Log in. Current as of December 17, 2020. Any investor who argues RioCan won’t be impacted by COVID-19 is simply lying to themselves. RioCan Real Estate Investment Trust (TSE:REI.UN) Dividend Information RioCan Real Estate Investment Trust pays an annual dividend of C$1.44 per share, with a dividend yield of 8.12%. Read more here. Will its succulent 10.5% dividend get cut? The stock yields 4.4 per cent. And what a difference a few months can make in the REIT sector. H&R REIT cut their dividend this May 14th, a Thursday, when the stock closed at $8.54. Your email address will not be published. RioCan stock’s dividend cut is a surprise for many investors. The problem seems to stem from the commercial segment of RioCan’s portfolio. In depth view into Riocan Real Estate Investment Trust Dividend including historical data from 1996, charts, stats and industry comps. A new world. Meanwhile, immigration has dropped to record lows and people have been working remotely for months, which means demand in major cities is likely to remain subdued. Other commercial landlords could be just as vulnerable as RioCan. © 2020 The Motley Fool Canada, ULC. Recents posts. They are looking into the future and judging the sustainability of the tenants. Last Close Price: $17.79. RioCan, a hugely popular Canadian REIT, has announced a dividend cut. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. RioCan Real Estate Investment Trust says it is cutting its payouts to unitholders by a third as the COVID-19 pandemic creates an uncertain future for shopping centres. Malls, retailers and gyms have been shut for much of this year. https://www.fool.ca/2020/12/04/riocan-tsxrei-un-cut-its-dividend-whos-next TFSA Picks: 3 Defensive Dividend Stocks for New Investors, Follow Warren Buffett’s Advice: Sell Airline Stocks and Buy Canadian Banks, $1,000 Invested in Aurora (TSX:ACB) Stock at the Start of 2020 Is Worth This Much Today, 3 Takeaways As Aurora Cannabis (TSX:ACB) Restructures Again and Misses 2020 Target, Retirement Worries? RioCan Real Estate Investment Trust (RIOCF) Dividend Growth History: By month or year. RioCan stock has offered 12 cents in dividends every month since February 2018. REI.UN's most recent dividend payment was made to shareholders of record on Tuesday, September 8. RioCan Real Estate Investment Trust pays an annual dividend of C$1.44 per share, with a dividend yield of 9.72%. The REIT (Toronto symbol REI.UN; Units outstanding: 303.8 million; Market cap: $8.6 billion; TSINetwork Rating: Average; Dividend yield: 5.3%; www.riocan.com) continues expand under the RioCan Living brand it formed to build and market residential apartments and condominiums. Image by Clker-Free-Vector-Images from Pixabay The monthly dividend rate is set to drop to 8 cents a month from next year, a 33% drop. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. Vishesh Raisinghani | December 4, 2020 | More on: REI.UN. Payout Ratio: --PE Ratio: 289.3. Chart. One of the country’s largest owners of retail properties, RioCan REIT (REI-UN-T), will cut distributions to unitholders by a third starting with its payout for January 2021. REITs with high payout ratios, low cash on hand and a portfolio exposed to commercial real estate could cut dividends in 2021. $1.15. (TSX:REI.UN) dropped 6% this morning. In fact, several large commercial tenants have stopped paying rent entirely, clobbering RioCan’s cash flows. I'm keeping all mine. Buy Into the End-of-Season Dividend Sale Before 2021. If you’re a real estate investor or a RioCan stock holder, here’s what you need to know. Some of the largest telecom stocks now offer dividend yields on par with the REIT sector. You know, tough question. I understand I can unsubscribe from these updates at any time. Income seeking investors might want to step away from the real estate sector and seek dividend elsewhere. If … IBM (IBM-N) High-tech … RioCan Real Estate Investment Trust (TSX:REI.UN) dropped 6% this morning. RioCan Real Estate Investment Trust will pay its monthly dividend of $0.12 on 12/7/20, Brookfield Renewable Corp will pay its quarterly dividend of … RioCan slashes their dividend. I think the cut is expected and at least, not 50%. Pulling the dividend back to ride out difficult periods is a good idea. That means investors buying RioCan stock at today’s price can expect a dividend yield of just 5.36% instead of the 8% investors have enjoyed for much of this year. Investors are dumping the stock after it announced a dividend cut for the year ahead. REI_u Dividends Get information about Riocan REIT dividends and ex-dividend dates. Check Out These 2 TSX Tech Stocks to Watch, Got $2,000? The company increased its quarterly dividend by 9.1 per cent in September, to $0.36 per share. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. REITs with high payout ratios, low cash on hand and a portfolio exposed to commercial real estate could cut dividends in 2021. , for instance, could be just as vulnerable. Here's a list. Still learning guys, bear with me! Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. The extended and major impact of the COVID-19 pandemic on the retail sector is cited as the reason for the reduction from $1.44 to 96 cents on an annual basis. But now that the dividend has been slashed by 33%, investors should brace for the pain to permeate across the sector. On Friday May 15th, their stock ended the day UP, closing at $8.56 and then proceeded to go almost straight up. Last year's total dividend payments show that RioCan Real Estate Investment Trust has a trailing yield … Three top dividend stock picks in the TSX energy sector from a Guardian $1.5-billion fund … Energy sector dividend plays, bargain stock hunting and RioCan’s payout cut: What you need to know in investing this week - Flipboard Dividend history includes: Declare date, ex-div, record, pay, frequency, amount. This impacts other commercial landlords too. Adjusted funds from operations (AFFO, the equivalent of a REIT’s free cash flow) is a better indicator of a distribution’s safety, and the AFFO payout ratio was 84.3%, suggesting the distribution was safe. On Friday May 15th, their stock ended the day UP, closing at … U.S. banks, big dividend payers, saw profits cut in half in the first quarter and can expect more loan losses as people stop making rent, mortgage and credit card payments. Just a few short months ago RioCan CEO Ed Sonshine promised that the distribution was rock solid. If you’re a real estate investor or a RioCan stock holder, here’s what you need to know. A $2,000 investment in RioCan and Enbridge will earn you more than $1,100 in two years — $160 in annual dividends and $800 in capital appreciation. In 2019, Riocan’s funds from operations (FFO, the equivalent of a REIT’s earnings) payout ratio was 76.9%. The management team tried to avoid this fate for months. Renewable energy and electricity providers have sustained their lucrative dividend rates throughout this year. $1.30. SmartCentres REIT and Morguard REIT, for instance, could be just as vulnerable. Simply click here to discover how you can take advantage of this. The good news is, this is not the first time a REIT has cut a dividend so it's easy to look at history and see what happens. Many have declared bankruptcy and won’t be returning to RioCan’s properties even if the economy recovers next year. 1996. That’s nowhere close to the amount it pays in dividend every year, even after the recent cut. The Motley Fool Canada » Dividend Stocks » RioCan (TSX:REI.UN) Cut Its Dividend: Who’s Next? Not to alarm you, but you’re about to miss an important event. RioCan Real Estate Investment Trust ( REI.UN ) News/Announcments: None Updated: 2020-12-14. RioCan recently completed two residential projects and is … Posted by 5 days ago. RioCan Real Estate Investment Trust's next dividend payment will be CA$0.12 per share, on the back of last year when the company paid a total of CA$1.44 to shareholders. Earlier this year, when the pandemic struck, RioCan CEO Ed Sonshine promised shareholders the dividend would remain steady. The company now has just $60 million in cash and cash equivalents left on its books. 1997. It seems the team has changed their mind. 258. The utility sector has been just as resilient. Please read the Privacy Statement and Terms of Service for more information. 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