Vornado Realty Trust (VNO) cuts dividend 20%.

Vornado Realty Trust (VNO) declared a third quarter common dividend of $0.53/share today, representing an approximate 20% decrease from the previous dividend payment of $0.66/share.  The revised dividend is payable on August 21, 2020 to shareholders of record on August 10.  The company said that the dividend decrease "is consistent with Vornado's policy of paying out 100% of taxable income."

Vornado Realty Trust (VNO) is a large-cap equity REIT with a focus on New York City Class-A office buildings (approximately 59% of EBITDA) and NYC street retail properties (30%).