Boston, MA 10/03/2013 (wallstreetpr) – Lexington Realty Trust (NYSE: LXP) on September 13, declared $0.15 dividend per share quarterly dividend. This will be the fourth consecutive payout at the dollar amount and will translate to a dividend yield of 5.3% over the past 12 months trailing period. This quarter’s dividend would be paid out on October 15 to all its shareholders on record as of September 30. On the same lines it has announced a dividend to its Series C convertible preferred stock owners for this quarter. It will pay out $0.812 per share. This will be payable on November 15 to share holders on record as of October 31.
Lexington Realty has been attempting to retain investors by doling out more in the form of dividends in comparison to its previous payouts. Earlier it used to pay out $0.125 per share on a quarterly basis.
On declaration of dividend the shares rallied smartly to post a 2.6% gain in share value over the next 5 sessions of trading. It peaked at $11.84 per share which was close to its 4 week highest valuation before plunging close to 4.8% in the next two weeks of trading. It ended the month of September at $11.2 per share which accounts for a 0.1% increase in value over its August close valuation. The first two days of trading in October too has been cyclic with the stock losing all the gains during trading on October 2 from its October 1 valuations.
As of October 2 close of business, the stock has levelled out at $11.29 per share. This reflects a close to 2% dip in valuation over the past 90 days.
Effective September 13, 2013, Clifford Broser, Senior Vice President of Vornado Realty Trust, resigned as a Trustee of Lexington Realty Trust (the “Trust”). Mr. Broser’s resignation does not reflect any disagreement with management or the Board of Trustees of the Trust.
