Killam properties today announced they are increasing their monthly dividend from $0.048333 a share to $0.05 a share ($0.60/ share annually). This represents a 3.45% increase.
Killam Properties is headquartered in Halifax, Nova Scotia. Killam owns and operates overt 12000 apartment units and over 7400 manufactured home communities in Atlantic Canada and Ontario. The company started in 2002 and now owns 206 properties.
Killam Properties is not a Real Estate Investment Trust. They are established as a corporation which means they are taxed at the corporate level and do not have to pay out 90% of their profits to their shareholders. In Canada, the dividend from Killam Properties qualifies for the dividend tax credit. Killam Properties started paying a dividend in 2007.
I currently hold Killam Properties in two accounts.
Photo Credit: Killam Properties website
Disclosure: Long KMP.TO