Duke Realty (DRE) will raise its quarterly dividend by 9.3 percent to $0.235 per share in 2019. This follows a 7.5 percent dividend hike by the industrial and medical offices REIT last year.

The next dividend will be payable on November 29, 2019 to shareholders of record on November 14, 2019. A new annualized rate of 94 cents per share yields 2.8% at a stock price of $35.34.

Jim Connor, Chairman and Chief Executive Officer, said: "we are pleased to be able to increase our quarterly dividend from $0.215 per share to $0.235 per share.  This 9.3 percent increase to our quarterly dividend is based on our expectation of continued cash flow growth allowing us to maintain more-than-adequate coverage of our ongoing dividends."

Duke Realty Corporation is an industrial REIT. The company specializes in the ownership, management and development of bulk distribution real estate. Its properties are leased by a diverse base of  tenants whose businesses include e-commerce, government services, manufacturing, retailing, wholesale trade, and distribution. As a fully integrated commercial real estate firm the company provides in-house leasing, management, development and construction services. Duke Realty launched its business in 1972 with the development of an industrial building in Indianapolis, IN. Currently the company has properties in 21 major logistics markets across the United States.