W. P. Carey (WPC) will raise its quarterly dividend by another 0.2 percent to $1.036 per share in 2019. The commercial REIT has raised its dividend for 21 consecutive years.

The next dividend is payable on October 15, 2019 to stockholders of record as of September 30, 2019. A new annual rate of $4.144 per share yields 4.6% at a stock price of $90.

W. P. Carey Inc. is a net lease commercial real estate investment trust that provides real estate-based financing solutions. The company invests in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry. W.P. Carey has paid a dividend every year since going public in 1998.