MGM Growth Properties LLC (MGP) will raise its quarterly dividend by another 0.5 percent to $0.47 per share. Earlier this year the casino REIT already hiked its dividend by a total of 4.5 percent. This is the 9th dividend increase since MGP's initial public offering in April 2016.

The next dividend will be payable on October 15, 2019 to shareholders of record as of the close of business on September 30, 2019. A new annual rate of $1.88 per share yields 6.2% at a stock price of $30.39.

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.