Boston Properties (NYSE:BXP) Increases Dividend by 6.7%
BXP Stock News Positive Sign for Economy
Today, we’ll turn to an economic “gauge.”
Regular readers know we check up on some economic “bellwethers” once in a while. We like to measure the health of the American economy using the strength of things like railroad stocks, retail profits, and RV sales.
Case in point: Boston Properties, Inc. (NYSE:BXP). The company owns one of the largest collection of office properties in the country, with trophy assets in cities like Boston, New York, San Francisco, and Washington D.C. When business is booming, demand for office space picks up…along with landlord profits.
And based on the latest BXP stock news, business looks pretty good. In a press release Monday, management raised the quarterly dividend 6.7% to $0.80 per share. The move raises BXP’s dividend yield to 2.4%. (Source: “Boston Properties Increases Regular Quarterly Dividend by 6.7%,” BusinessWire, December 18, 2017.)
As you can see from the chart below, property owners have done quite well. BXP stock has advanced from $30.00 per share to $130.00 per share since the financial crisis. In the past few weeks, shares have started closing in on a new all-time high.
Chart courtesy of StockCharts.com
We see this BXP dividend increase and think, “Well, things can’t be all that bad!”