MGM Growth Properties LLC (MGP) will raise its quarterly dividend by 3.9 percent to $0.465 per share. This will mark the 3rd consecutive year of dividend increases by the REIT.

The dividend will be payable on April 15, 2019 to shareholders of record as of the close of business on March 29, 2019. A new annualized dividend rate of $1.86 per share yields 6.0% at a stock price of $30.88.

MGM Growth Properties LLC is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. The company owns Las Vegas Strip properties including Mandalay Bay, The Mirage, Monte Carlo, New York-New York, Luxor and Excalibur.