Consolidated-Tomoka Land Co. (CTO) will raise its quarterly dividend by 10.0 percent to $0.11 per share in the third quarter of 2019. This is the second dividend increase this year by the real estate operating company.

The next dividend is payable on August 30, 2019, to shareholders of record on August 12, 2019. The new dividend yields 0.8% on a annualized basis.

Laura M. Franklin, Chairman of the Board, stated, “The Board is pleased that the operating results of the Company continue to support our dividend tradition that began in 1976. The Board will continue to review its dividend strategy on a regular basis.”

Consolidated-Tomoka Land Co. is a Florida-based publicly traded real estate company, which owns, as of July 16, 2019, a portfolio of income investments in diversified markets in the United States including approximately 2.3 million square feet of income properties, as well as more than 5,300 acres of land in the Daytona Beach area.