Four Corners Property Trust (FCPT) will raise its quarterly dividend by 4.5 percent to $0.2875 per share in the first quarter of 2019.

The increased dividend is payable on January 14, 2019 to shareholders of record as of January 4, 2019.

A new annualized dividend rate of $1.15 per share yields 4.2% at a stock price of $27.39.

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.