Kimco Realty Corp. : KIM-US: Dividend Analysis : October 04th, 2017 (record date) : By the numbers : October 17, 2017

Our analysis is based on comparing Kimco Realty Corp. with the following peers – Blackstone Group L.P., Mack-Cali Realty Corporation, Lexington Realty Trust and Washington Real Estate Investment Trust (BX-US, CLI-US, LXP-US and WRE-US).

Dividend Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to June 30, 2017), KIM-US paid a low quality dividend, which represents a yield of 5.53% at the current price.
  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 3 were high quality, 1 was medium quality and 1 was low quality.
  • The ending cash balance is less than the last full year dividend payment and cannot be relied on to cushion any significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to June 30, 2017), KIM-US paid a low quality dividend.

The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 1.38x), investing cash flow (coverage of -0.66x), issuance cash flow (coverage of -0.12x) and twelve-month prior cash (coverage of 0.69x), for a total dividend coverage of 1.29x.

KIM-US’s issuance cash flow includes outflows from net debt repayment (coverage of -0.34x).

Dividend Coverage by Cash Flow (TTM)

These coverage ratio factors imply that the firm had to dip into the beginning cash balance to pay the dividend, which suggests a low dividend quality.

Dividend History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 4.86 4.95 4.13 4.17 4.43 5.61
Dividend Payout (%) 464.29 318.79 566.91 72.89 233 554.98

A complete list of metrics and analysis is available on the company page.

Company Profile

Kimco Realty Corp. is a real estate investment trust company, which engages in the ownership and operation of open-air shopping centers. It also specializes in shopping center acquisitions, development and management. The company was founded by Milton Cooper and Martin S. Kimmel in 1973 and is headquartered in New Hyde Park, NY.

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