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Toronto-based property services leader FirstService has announced an 11% increase to its quarterly cash dividend, raising the payout from 27.5 cents to 30.5 cents per share. The hike reflects the firm's ongoing strategy to return capital to investors amid steady performance in the North American real estate market.
The revised payout brings the total annual distribution to $1.22 per share. Based on Tuesday’s closing price of $152.65, the adjustment shifts the company's annual dividend yield to approximately 0.8%, an increase from the previous 0.72%.
According to the official board announcement, the new dividend is scheduled for payment on April 7. Investors must be listed as shareholders of record by the close of business on March 31 to qualify for the distribution.
FirstService continues to maintain a strong foothold in the essential property services sector, managing a vast portfolio of residential and commercial assets. This latest increase marks a consistent effort by the Toronto-listed firm to balance operational growth with shareholder rewards, following a period of resilient cash flow generation.
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