W. P. Carey (WPC) will raise its quarterly dividend by another 0.5 percent to $1.03 per share in the fourth quarter of 2018. The commercial REIT 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 January 15, 2019 to stockholders of record as of December 31, 2018. A new annualized dividend rate of $4.12 per share yields 5.9% at a stock price of $69.63.

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.