Key Highlights

  • Phillips Edison's $0.115 monthly dividend has an October 15, 2026 record date and is payable November 3 to stockholders of record.
  • The board approved a 6.2% increase, an annualized $1.38 per share versus $1.30, its sixth consecutive annual increase.
  • Second-quarter Nareit FFO was $0.67 per diluted share, and Core FFO was $0.69, up 7.8% from a year earlier.
  • Same-center NOI increased 3.8% to $120.6 million, and leased portfolio occupancy was 97.3%.

Phillips Edison & Company's (NASDAQ:PECO) $0.115 monthly dividend yields 3.66% and sits beside second-quarter Nareit FFO of $0.67 per diluted share and Core FFO of $0.69. The company announced the increase on September 1, 2026 and states the annualized rate is $1.38 per share.

Dividend Program and Shareholder Returns

Phillips Edison's board approved a 6.2% increase to its monthly dividend distributions, payable October 1, November 3 and December 1, 2026 to stockholders of record as of September 15, October 15 and November 16. The rate is $0.115 per share.

The company states that, annualized, this equals $1.38 per share, up from the previous annualized rate of $1.30. Its chairman and chief executive officer described it as the sixth consecutive annual dividend increase.

About the Company

Phillips Edison & Company, founded in 1991 and based in Cincinnati, is one of the nation's largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers. At June 30, 2026 it managed 330 shopping centers, including 302 wholly owned centers comprising 33.9 million square feet across 31 states and 28 centers owned in three institutional joint ventures.

Financial Performance Behind the Payout

Second-quarter Nareit FFO was $93.7 million, or $0.67 per diluted share, versus $86.0 million, or $0.62. Core FFO, a non-GAAP measure, was $95.5 million, or $0.69, versus $88.2 million, or $0.64. First-half Nareit FFO was $186.6 million, or $1.34, versus $175.1 million, or $1.26, and first-half Core FFO was $191.9 million, or $1.38, versus $179.0 million, or $1.29.

Same-center NOI was $120.6 million versus $116.2 million, up 3.8%. Net income attributable to stockholders was $41.1 million, or $0.33 per diluted share, versus $12.8 million, or $0.10.

Leased portfolio occupancy was 97.3%, and same-center leased inline occupancy was a record 95.5%. Comparable new leases carried a rent spread of 33.7% and renewal leases 21.2%. Total liquidity was $857.3 million, and net debt to annualized adjusted EBITDAre was 5.1x.

Acquisitions, Equity Issuance and the October Update

In the second quarter the company acquired six shopping centers and one outparcel for $152.4 million at its prorated share, sold $64.6 million in assets and raised $85.3 million of net proceeds by issuing 2.0 million shares through its at-the-market program at a gross weighted average price of $42.06.

On October 1, 2026 the company increased its gross acquisitions guidance to $600 million to $700 million, and expanded its Northwestern Mutual joint venture to include 13 centers valued at about $377.5 million.

Outlook

Phillips Edison's July 2026 guidance is Nareit FFO of $2.67 to $2.72 per diluted share, raised from $2.66 to $2.71, Core FFO of $2.73 to $2.79, raised from $2.72 to $2.78, and same-center NOI growth of 3.40% to 4.00%, raised from 3.00% to 4.00%.