Earn a 5.3% Yield from Abercrombie & Fitch Using This Hack
Abercrombie & Fitch (NYSE:ANF) has been one of the market's best performing stocks over the last year, rallying more than 330% at the time of this writing.
While its performance has been nothing short of impressive, it's off-limits for dividend and income investors as it does not pay a dividend.
However, there’s a hack you can use to earn a 5.3% dividend yield, and that’s by investing in one of its largest landlords.
Let’s dig in.
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Simon Property Group, Inc.
Simon Property Group (NYSE:SPG) owns and operates more than 250 shopping centers across North America, Europe, and Asia, including properties in the top 25 U.S. markets based on population. Its properties are home to more than 3,000 market-leading brands, including Abercrombie & Fitch, as well as Gap, Dick's Sporting Goods, American Eagle Outfitters, Victoria's Secret, and Lululemon.
So, by owning Simon Property Group, you can generate dividend income that is partially attributable to Abercombie & Fitch.
Simon Property Group currently pays a quarterly dividend of $1.95 per share, equating to an annualized dividend of $7.80 per share and giving it a yield of about 5.3% today.
Simon Property Group has also raised its annual dividend each of the last two years, and its 2.6% hike last month has it on track for 2024 to mark the third consecutive year with an increase.
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