Griffin Industrial Realty (GRIF) will raise its annual dividend by 12.5 percent to $0.45 per share in 2018. This follows a 10 cent per share dividend hike to 40 cents last year.

The dividend is payable on December 7, 2018 to stockholders of record at the close of business on November 30, 2018. The new annual dividend of 45 cents yields 1.3% at a stock price of $35.10 for GRIF.

Griffin Industrial Realty, Inc., formerly Griffin Land & Nurseries, Inc., provides real estate services. The company is involved in developing, managing and leasing industrial/warehouse properties and office/flex/commercial properties in the State of New York.