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Dividend

Common Dividend Declared by NNN REIT, Inc.

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The Board of Directors of NNN REIT, Inc. (NYSE: NNN), a real estate investment trust, today announced a quarterly dividend of 56.5 cents per share payable November 15, 2023 to shareholders of record as of October 31, 2023.  NNN is one of only three publicly traded REITs to have increased its annual dividend for 34 or more consecutive years.

Other News

NNN REIT, Inc. Prices Offering of $500 Million of 5.600% Senior Unsecured Notes Due 2033

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NNN REIT, Inc. (NYSE: NNN) today announced the pricing of its public offering of $500 Million of 5.600% senior unsecured notes due 2033. The notes were offered at 97.676% of the principal amount with a yield to maturity of 5.905%. Interest on the notes will be payable semi-annually on April 15 and October 15 of each year, commencing on April 15, 2024. The notes mature on October 15, 2033. NNN intends to use the proceeds to repay all of the outstanding indebtedness under its credit facility, to fund future property acquisitions and for general corporate purposes.

Earnings

Second Quarter 2023 Operating Results and Increased 2023 Guidance Announced by NNN REIT, Inc.

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NNN REIT, Inc. (NYSE: NNN) today announced Second Quarter 2023 results and increased 2023 guidance. FFO, Core FFO and AFFO were all $0.80 per share and 2023 Core FFO guidance was raised to a range of $3.17-$3.22 per share. FFO increased 3.9% and occupancy held at 99.4%. $181.3 million was invested in real estate, including 36 properties. NNN’s 30-year average annual total return is 11.1%.