W.P. Carey Raises Dividend 2%


Net lease asset REIT W.P. Careyannounced today its third-quarter dividend of $0.86 per share,a 2.4% increase in the payout made to investors last quarter of $0.82 per share.

Noting the dividend increase was the 50th consecutive quarterly payout hike for the REIT, W. P. Carey President and CEO Trevor Bond said, "By capitalizing on our core competencies in the areas of sophisticated deal structuring, rigorous credit analysis and evaluation of real estate markets, we have been able to grow our portfolio and expand into global markets." He added, "Providing our investors a steady cash flow and increasing dividends during good times and bad was a core mission of Bill Carey's when he founded W. P. Carey 40 years ago -- a mission we continue to follow and in which we take great pride."

The board of directors said the quarterly dividend is payable on October 15 to holders of record at the close of business on September 30. The regular dividend payment equates to a $3.44-per-share annual dividend, yielding 5.2% based on the closing price today of W.P. Carey's stock.

WPC Dividend Chart
WPC Dividend Chart

WPC Dividend data by YCharts.

The article W.P. Carey Raises Dividend 2% originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.