American Campus Communities (ACC) will raise its quarterly dividend by 2.2 percent to $0.47 per share in the second quarter of 2019. This marks the 7th consecutive year of higher dividends for the REIT.

The next dividend is payable on May 24, 2019, to shareholders of record at the close of business on May 13, 2019. A new annual rate of $1.88 per share yields 4.0% at a stock price of $47.31.

“We are pleased to provide a seventh consecutive annual dividend increase for shareholders,” said Bill Bayless, American Campus Communities CEO. “The long-term stability of our operating performance has allowed the Board of Directors to maintain or increase the company’s dividend throughout the 58 quarters since our IPO, representing over 39 percent growth in the dividend since 2012.”

American Campus Communities, Inc. is an owner, manager and developer of student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties.