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RioCan’s units initially dropped 10 per cent in early Friday trading, before closing down 2 per cent at $17.65. They are looking into the future and judging the sustainability of the tenants. 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. 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. 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. Any investor who argues RioCan won’t be impacted by COVID-19 is simply lying to themselves. (TSX:REI.UN) dropped 6% this morning. Not to alarm you, but you’re about to miss an important event. Year. Renewable energy and electricity providers have sustained their lucrative dividend rates throughout this year. Data usage has skyrocketed as everyone works from home. But now that the dividend has been slashed by 33%, investors should brace for the pain to permeate across the sector. 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. Posted by 5 days ago. Market Cap: 5.65B. The dividend cut is a prudent move by REI. Check Out These 2 TSX Tech Stocks to Watch, Got $2,000? That’s because I believe personal finance is very personal. Last Close Price: $17.79. 1997. This impacts other commercial landlords too. 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. Investors are dumping the stock after it announced a dividend cut for the year ahead. 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. RioCan slashes their dividend. They’re just as likely to sustain their payouts in 2021 and beyond. Image by Clker-Free-Vector-Images from Pixabay A new world. The Motley Fool Canada » Dividend Stocks » RioCan (TSX:REI.UN) Cut Its Dividend: Who’s Next? 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. Let’s take a closer look. You know, tough question. Canada’s unemployment rate is still stubbornly high and government benefit programs are gradually coming to an end. 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. REI_u Dividends Get information about Riocan REIT dividends and ex-dividend dates. Please read the Privacy Statement and Terms of Service for more information. RioCan stock’s hefty exposure to the commercial real estate sector is a key reason why the dividend payout is being cut. If you’re a real estate investor or a RioCan stock holder, here’s what you need to know. I understand I can unsubscribe from these updates at any time. 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 Businesses of all sizes have suffered this year. On Friday May 15th, their stock ended the day UP, closing at $8.56 and then proceeded to go almost straight up. Returns since inception, October 2013. 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%. Recents posts. Chart. You can find more details by going to one of the sections under this page such as ex-date, dividend and payment date. I'm keeping all mine. It’s already had a big impact on the company. RioCan, a hugely popular Canadian REIT, has announced a dividend cut. Still learning guys, bear with me! That’s nowhere close to the amount it pays in dividend every year, even after the recent cut. “Either the market has way overreacted on the downside, or there’s this feeling that the world is so awful that they’re all going to be cut,” RioCan CEO Ed Sonshine said about payouts to investors in an interview with BNN Bloomberg Tuesday. SmartCentres REIT and Morguard REIT, for instance, could be just as vulnerable. If you’re still seeking a high dividend yield and passive income, the utilities or telecom sector would be better bets. Unfortunately in my haste I forgot to mention the new dividend for the next payout will be down to .08 a share! View Entire Discussion (3 Comments) More posts from the dividends community. This is your chance to get in early on what could prove to be very special investment advice. Investors are dumping the stock after it announced a dividend cut for the year ahead. The management team tried to avoid this fate for months. I think the cut is expected and at least, not 50%. Effective February 10, 1998, RioCan's Trust Units were divided on a two-for-one basis. 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. $1.15. In fact, several large commercial tenants have stopped paying rent entirely, clobbering RioCan’s cash flows. $1.55. Buy Into the End-of-Season Dividend Sale Before 2021. If … Current as of December 17, 2020. A dividend is removed today from RioCan Real Estate Investment Trust's share. The utility sector has been just as resilient. Investors are beginning to worry about RioCan REIT (TSX:REI.UN) and it's 10.5% yield. IBM (IBM-N) High-tech … REITs with high payout ratios, low cash on hand and a portfolio exposed to commercial real estate could cut dividends in 2021. RioCan Real Estate Investment Trust (TSX:REI.UN) dropped 6% this morning. 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? The company increased its quarterly dividend by 9.1 per cent in September, to $0.36 per share. 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. 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 The monthly dividend rate is set to drop to 8 cents a month from next year, a 33% drop. The Motley Fool recommends Smart REIT. Finding the right income opportunity in 2020. Yield: 8.09%. Frequency: Monthly. Pulling the dividend back to ride out difficult periods is a good idea. Payout Ratio: --PE Ratio: 289.3. 258. Since their first increase, the REIT has maintained an AFFO payout ratio of around 70%. RioCan Real Estate Investment Trust (RIOCF) Dividend Growth History: By month or year. RioCan stock’s dividend cut is a surprise for many investors. Residential REITs could be in a better position, but not by much. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. Your email address will not be published. The company now has just $60 million in cash and cash equivalents left on its books. Just a few short months ago RioCan CEO Ed Sonshine promised that the distribution was rock solid. Other commercial landlords could be just as vulnerable as RioCan. Log in. 1995. Did Riocan cut its distribution because its assets are in trouble? RioCan Real Estate Investment Trust pays an annual dividend of C$1.44 per share, with a dividend yield of 9.72%. H&R REIT cut their dividend this May 14th, a Thursday, when the stock closed at $8.54. The actual number is likely lower, as many investors choose to receive new shares instead of dividends. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. 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 H&R REIT cut their dividend this May 14th, a Thursday, when the stock closed at $8.54. © 2020 The Motley Fool Canada, ULC. Investors are dumping the stock after it announced a dividend cut for the year ahead. 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. Here's why I'm not one of them. Income seeking investors might want to step away from the real estate sector and seek dividend elsewhere. The stock yields 4.4 per cent. The chief executive officer of RioCan Real Estate Investment Trust has a message for investors: The company’s distributions are safe. Here's a list. RioCan recently completed two residential projects and is … Looking for more quality stocks? 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. It seems the team has changed their mind. Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. Read more here. Dividend history includes: Declare date, ex-div, record, pay, frequency, amount. 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. Simply click here to discover how you can take advantage of this. Fool contributor Vishesh Raisinghani has no position in any of the stocks mentioned. 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