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Urstadt Biddle Properties dividend cut ends 26 years of increases

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Urstadt Biddle Properties Inc. (UBA) will cut its quarterly dividend by 75 percent to 7 cents per share. This will end a great dividend track record with the shopping center REIT having raised its dividend every year for the last 26 years.

This action follows dividend cuts and suspensions in May by other companies known for their strong dividend history such as Ross Stores, TJX Companies and Tanger Factory Outlet Centers.