Federal Realty Investment Trust (FRT) will raise its quarterly dividend by 2 percent to $1.02 per share in 2018. This marks the company's 51st consecutive year of annual dividend increases.

The regular common dividend will be payable on October 15, 2018, to common shareholders of record on September 21, 2018. This increase represents the 51st consecutive year that Federal Realty has increased its common dividend, the longest record of consecutive annual dividend increases in the REIT sector, and one of only a small number of companies in any sector to accomplish such a record. The new annual dividend of $4.08 per share yields 3.2% at a stock price of $128.22.

"Continued solid growth in our property level operating income this quarter along with solid progress in developing and delivering great new retail and mixed use destinations for the years to come, gives us great confidence in our ability to raise our dividend to shareholders for a REIT record 51st year in a row, that is, since 1967," said Donald C. Wood, President and Chief Executive Officer of Federal Realty. "As I celebrate my own 20th year anniversary with the Company in 2018 and 15th as its chief executive, I still marvel at the quality of the real estate and balance sheet that allows us to build on this incredibly unique and rare feat year in and year out. It's only possible by truly acting with long term real estate value creation always top of mind."

Federal Realty Investment Trust is an equity real estate investment trust (REIT). The Company specializes in in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles.