Consolidated-Tomoka Land (CTO) will raise its quarterly dividend by another 18.2 percent to $0.13 per share in the fourth quarter of 2019. This brings the total dividend increase to 62.5 percent YTD.

The next dividend is payable on November 29, 2019, to shareholders of record on November 12, 2019. A new annual rate of 52 cents per share yields 0.8% at a stock price of $66.84.

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 October 16, 2019, a portfolio of income investments in diversified markets in the United States including approximately 2.3 million square feet of income properties.  Consolidated Tomoka Land Co. traces its roots back to Jacksonville in the early 1900s.