Getty Realty raises quarterly dividend 3.1% to $0.50 a share
Key Facts
Getty Realty's board raised the quarterly cash dividend to $0.50 per common share in its October 2026 announcement, an increase of 3.1% from the previous dividend, according to Investing.com. The decision follows the company's declared dividend of $0.485 per common share, payable on October 8, 2026, according to its quarterly dividend statement. The company also raised the dividend in its October announcement the previous year, when the increase was 3.2%, according to Investing.com's coverage of that announcement. That move brought the quarterly dividend to the level maintained before the latest increase, according to the earlier announcement. The new increase is therefore smaller in percentage terms than the one announced a year earlier, while raising the cash amount payable per common share.
In its second-quarter 2026 results, Getty Realty reported a 13.2% year-on-year increase in quarterly base rental income, according to the company's earnings statement. That income totaled $56.6 million, compared with $50.0 million in the second quarter of 2025, the comparison period cited in the statement. The company said adjusted funds from operations were $0.62 per share in the second quarter, alongside growth in base rental income over the same period. As part of that earnings announcement, it raised its adjusted funds from operations guidance per diluted share for fiscal 2026 to a range of $2.52 to $2.54. The previous guidance range was $2.50 to $2.52 per diluted share, according to the company, with the revision raising both the lower and upper ends of its annual estimates.
Getty Realty specializes in acquiring, financing and developing properties, according to the description of its business in the company's earlier statement on the cash dividend increase. Its business encompasses properties used for convenience stores and automotive-related activities, as well as other single-tenant retail properties, according to the statement. In its September 2026 update, the company announced year-to-date investments of approximately $455.2 million, according to the transaction statement published at the time. Those investments focused on convenience store and automotive retail properties, the businesses covered by the company's investment update. The initial cash yield on those investments was 7.1%, according to the same update, which outlined cumulative investment since the start of the year and the types of assets the company targeted.
As part of its property expansion, Getty Realty announced in September that it had completed a sale-leaseback transaction with Refuel, according to a separate statement on the deal. The transaction was valued at $260.9 million, the amount Getty Realty announced when disclosing its closing with the counterparty. The transaction included the acquisition of 41 convenience stores, according to the details of the acquired assets in Getty Realty's deal statement. The acquired properties carried leases with initial terms of 20 years, the duration the company specified when announcing the transaction's terms. Getty Realty described the agreement as a "sale-leaseback transaction" in a statement that announced the store acquisitions and specified the initial terms of the associated leases.
On financing, Getty Realty announced in October 2026 that it had obtained a new unsecured loan, according to the company's filing with the U.S. Securities and Exchange Commission. The loan's total principal was $200 million, according to the statement accompanying the filing, which outlined the amount of new financing and its interest terms at closing. The company put the loan's effective interest rate at closing at 5.03%, the rate cited in the financing statement. The credit agreement also includes restrictions on restricted payments, according to the company's SEC filing, potentially limiting its ability to take on additional debt or pay dividends. Describing the effect of those restrictions, the company said they "may limit the company's ability to incur additional indebtedness or pay dividends."
Getty Realty plans to announce its third-quarter 2026 financial results after the market closes on October 21, according to the company's statement on the scheduled earnings release. The company set the following day, October 22, 2026, for the call and webcast accompanying its quarterly financial results. The event is scheduled to begin at 8:30 a.m. U.S. Eastern Time, according to the time the company announced for the call and webcast. The new cash dividend is scheduled for payment on January 7, 2027, according to Investing.com's coverage of the quarterly increase announcement. The dividend will be payable to shareholders of record on December 24, 2026, according to the same coverage, which specified the record date preceding the payment date.