Essential Properties Realty Trust, Inc. (EPRT) will raise its quarterly dividend by 4.8 percent to $0.22 per share in 2019. Last year the real estate company initiated a quarterly dividend and this is the first ever dividend hike.

The next dividend is payable on July 15, 2019 to stockholders of record as of the close of business on June 28, 2019. A new annual rate of 88 cents yields 4.2% at a stock price of $20.77.

Essential Properties Realty Trust, Inc. is an internally managed real estate company that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses such as restaurants (including quick service, casual and family dining), car washes, automotive services, medical services, convenience stores, entertainment, health & fitness and early childhood education. Essential Properties Realty Trust became a public company in 2018 and paid its first quarterly dividend later that year.