Broadstone Net Lease Boosts Quarterly Dividend to $0.29 Per Share

Published 1 days agoBNL

Broadstone Net Lease Boosts Quarterly Dividend to $0.29 Per Share

Broadstone Net Lease, Inc. (BNL) has declared a quarterly dividend of $0.29 per share, a 1.8% increase from the previous quarter's dividend of $0.285. This dividend will be payable on or before April 15, 2025, to shareholders on record as of March 31. With an annualized dividend of $1.16 per share, this represents a dividend yield of approximately 6.89% and a payout ratio of 72%, according to stocktitan.net.

As of the end of 2024, BNL managed a portfolio of 765 net-leased commercial properties across 44 U.S. states and four Canadian provinces. This portfolio encompassed 39.4 million rentable square feet, maintaining a 99.1% occupancy rate with a weighted average lease term of 10.2 years. The robust portfolio supports BNL's financial strategies, including a projected Adjusted Funds from Operations per diluted share between $1.45 and $1.49 for 2025, along with plans for over $200 million in build-to-suit developments through 2026.

BNL's financial health is underscored by its Net Debt to Annualized Adjusted EBITDAre ratio of 5.0x and a Pro Forma ratio of 4.9x as of December 31, 2024. This strong position allows the company to strategically expand its portfolio while delivering consistent returns to shareholders through dividends.

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