First Industrial Realty Trust (FR) will raise its quarterly dividend to $0.19 per share.

"On the strength of our performance in 2015 and our outlook and business plan for 2016, we increased the first quarter dividend by 49%," said Scott Musil, chief financial officer. "At this level, we expect our AFFO payout ratio to be approximately 70%, an increase from prior levels driven by growth in taxable income, including the potential impact of taxable gains from targeted asset sales of $150 million to $200 million in 2016."

First Industrial Realty Trust, Inc. is a fully integrated owner, operator, and developer of industrial real estate. The company manages, leases, buys, (re)develops, and sells bulk and regional distribution centers, light industrial, and other industrial facility types.