W. P. Carey (WPC) will raise its quarterly dividend by 0.5 percent to $1.025 per share in the third quarter of 2018. WPC has now raised its dividend for twenty consecutive years. Last year the dividend was hiked by a total of 2.0 percent.
The next dividend is payable on October 15, 2018 to stockholders of record as of October 1, 2018. The new annualized dividend rate of $4.10 per share translates into an estimated dividend yield of 6.2% at a stock price of $65.77.
W. P. Carey Inc. is a net lease commercial real estate investment trust that provides real estate-based financing solutions. The company invests in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry. W.P. Carey has paid a dividend every year since 1998.