Trailing Dividend / Share
$1.75
First Industrial Realty Trust, Inc. (FR) Dividend History
Income profile from 1994 to 2026 with payout safety and yield-on-cost trend
Dividend Yield
2.8%
Payout Ratio
93.4%
At Risk
Dividend Streak
14 years
FR Dividend Income Check
Safety
93.4% payout ratio with at risk safety profile.
Consistency
14 straight years of dividend increases.
Income Trend
Yield on cost is 4.4% and trend is rising.
FR Dividend Scorecard
Yield & Income
Dividend Yield2.8%
Trailing DPS$1.75
FrequencyAnnual
Payments / 12M4
Payout Safety
Earnings Payout93.4%
Earnings SafetyAt Risk
FCF Payout47.9%
FCF SafetyWell Covered
Piotroski F-Score5/9
Growth
Growth Streak14 years
3Y CAGR14.7%
5Y CAGR12.2%
Yield on Cost (5Y)4.4%
YOC Trendrising
Total Returns
Buyback Yield0.0%
Total Shareholder Yield2.8%
1Y Total Return30.1%
5Y Total Return42.3%
Div Contribution (5Y)14.5%
Estimated $10K growth (return + dividends):
5Y ago$14,23010Y ago$30,71720Y ago$21,190
Uses precomputed total return metrics from screening data (not lot-by-lot dividend reinvestment transactions). Different time windows can produce different outcomes depending on market regime and entry point.
FR Income Growth Story
Dividend per share and yield on cost over time (29 years of payments)
FR Dividend Safety Story
EPS is the container — dividend is what's drawn out
Dividend Analysis
Payout Safety
First Industrial Realty Trust, Inc. distributes 93.4% of earnings as dividends (At Risk). When measured against free cash flow—a stricter test—the payout ratio stands at 47.9%, rated "Well Covered".
Piotroski F-Score: 5/9 — moderate financial health.
Growth Track Record
FR has raised its dividend for 14 consecutive years, with a 3-year CAGR of 14.7% and 5-year CAGR of 12.2%.
Total Shareholder Returns
Beyond cash dividends, FR returns capital through share repurchases. The combined picture: 2.8% dividend yield, 0.0% buyback yield, 2.8% total shareholder yield.
Income Trend & Total Return
Yield on cost (5-year basis) has reached 4.4% and is currently rising. The 5-year total return is 42.3%, with dividends contributing 14.5% of that performance.
DRIP Growth
A $10,000 investment made 10 years ago with dividends reinvested would have grown to approximately $30,717 today.
Elevated payout ratio — dividend sustainability should be monitored closely.
FR Recent Dividend Payments
Last 20 payments · Annual
TTM Total$7.03
Avg/Payment$0.3515
Latest Change+12.4%
| Ex-Date | Amount | Change | Yield % | Payment Date |
|---|---|---|---|---|
| Mar 31, 2026Latest | $0.5000 | ↑ +12.4% | 3.17% | Apr 20, 2026 |
| Dec 31, 2025 | $0.4450 | — | 3.11% | Jan 20, 2026 |
| Sep 30, 2025 | $0.4450 | — | 3.31% | Oct 20, 2025 |
| Jun 30, 2025 | $0.4450 | — | 3.39% | Jul 21, 2025 |
| Mar 31, 2025 | $0.4450 | ↑ +20.3% | 2.88% | Apr 21, 2025 |
| Dec 31, 2024 | $0.3700 | — | 2.95% | Jan 21, 2025 |
| Sep 30, 2024 | $0.3700 | — | 2.55% | Oct 21, 2024 |
| Jun 28, 2024 | $0.3700 | — | 2.90% | Jul 15, 2024 |
FR Dividend vs Peers
Comparable companies in the same industry
#7 yield in peer group
Div Yield
2.8%
#7 of 9
Safety
At Risk
93.4% payout
Streak
14Y
12.2% 5Y CAGR
Total Shareholder
2.8%
#6 of 9
| Company | Mkt Cap | Yield | Payout | Streak | Safety |
|---|---|---|---|---|---|
| FRFirst Industrial Rea… | $8.2B | 2.8% | 93.4% | 14 | At Risk |
 PLDPrologis, Inc. | $130.3B | 2.7% | 95.7% | 11 | At Risk |
 EGPEastGroup Properties… | $10.8B | 2.8% | 1.2% | 7 | Sustainable |
3rd  REXRRexford Industrial R… | $8.4B | 5.0% | 1.9% | 1 | Sustainable |
 STAGSTAG Industrial, Inc… | $7.3B | 4.0% | 1.0% | 2 | Sustainable |
2nd  LXPLXP Industrial Trust | $3.1B | 5.4% | 1.5% | 5 | Sustainable |
 TRNOTerreno Realty Corpo… | $6.7B | 3.1% | — | 15 | Unknown |
 ILPTIndustrial Logistics… | $497M | 1.6% | — | 2 | Unknown |
1st  GTYGetty Realty Corp. | $2.0B | 5.8% | 1.4% | 8 | Sustainable |
FR Annual Dividend History (1994–2026)
33 years of dividend data
GrowthDecline
| Year | DPS | YoY | Pmts | EPS | Payout | Coverage | YOC |
|---|---|---|---|---|---|---|---|
| 2026YTD | $0.50 | — | 1 | — | — | — | 1.2% |
| 2025 | $1.78 | 20.3% | 4 | $1.87 | 95.2% | 1.05x | 4.4% |
| 2024 | $1.48 | 15.6% | 4 | $2.17 | 68.2% | 1.47x | 3.6% |
| 2023 | $1.28 | 8.5% | 4 | $2.07 | 61.8% | 1.62x | 3.1% |
| 2022 | $1.18 | 9.3% | 4 | $2.72 | 43.4% | 2.31x | 2.9% |
| 2021 | $1.08 | 8.0% | 4 | $2.09 | 51.7% | 1.94x | 2.6% |
| 2020 | $1.00 | 8.7% | 4 | $1.53 | 65.4% | 1.53x | 2.4% |
| 2019 | $0.92 | 5.7% | 4 | $1.88 | 48.9% | 2.04x | 2.3% |
| 2018 | $0.87 | 3.6% | 4 | $1.31 | 66.4% | 1.51x | 2.1% |
| 2017 | $0.84 | 10.5% | 4 | $1.69 | 49.7% | 2.01x | 2.1% |
See FR's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs FR Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare FR vs WELL
Side-by-side business, growth, and profitability comparison vs Welltower Inc..
Start ComparisonFR — Frequently Asked Questions
Quick answers to the most common questions about buying FR stock.
How much dividend does FR pay per share?
First Industrial Realty Trust, Inc. (FR) pays a trailing 12-month dividend of $1.75 per share, with a current dividend yield of +2.8%. Payments are made Annual.
When is FR's next ex-dividend date?
FR's most recent ex-dividend date is N/A. You must own shares before the ex-dividend date to receive the next payment. FR typically pays dividends Annual.
Is FR's dividend safe?
FR's dividend safety is rated "At Risk" based on an earnings payout ratio of +93.4% and FCF payout ratio of +47.9%. With 14 consecutive years of dividend growth, the track record supports sustainability.
Is FR a Dividend Achiever?
Yes, First Industrial Realty Trust, Inc. is classified as a Dividend Achiever with 14 consecutive years of dividend increases. The 5-year dividend CAGR is +12.2%, demonstrating above-inflation dividend growth.
How often does FR pay dividends?
First Industrial Realty Trust, Inc. pays dividends Annual. The trailing 12-month total is $1.75 per share. Dividend data on this page covers 32+ years from 1994 to 2026.
How much would $10,000 invested in FR grow with dividend reinvestment?
With dividends reinvested (DRIP), $10,000 invested in FR five years ago would be worth approximately $14,230 today. This includes both price appreciation and compounded dividend reinvestment. Use the DRIP calculator above for other time periods.
What is FR's yield on cost for long-term holders?
FR's yield on cost — the current dividend divided by the original purchase price — is +4.4% for a 5-year holding period. This means long-term holders earn a higher effective yield than today's +2.8% market yield, thanks to consistent dividend growth.