Four Corners Property Trust (FCPT) will raise its quarterly dividend by 13.4 percent to $0.275 per share in the fourth quarter of 2017. The new dividend yield for FCPT is 4.3%.

The new dividend will be paid on January 12, 2018 to shareholders of record on December 29, 2017.

Bill Lenehan, Chief Executive Officer, commented, “This dividend increase is the first in the two years since our founding. It reflects our confidence in FCPT’s portfolio and our ability to deliver durable and growing long-term cash flows, while maintaining a low-leverage balance sheet. The increase is meaningful, but the dividend level remains consistent with our conservative dividend payout policy, and allows room for retained capital and additional future dividend growth as cash flows increase.”

Four Corners Property Trust, Inc., headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. FCPT will seek to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry.