Urstadt Biddle Properties Inc. (UBA) will raise its quarterly dividend by 1.8 percent to $0.28 per share. This follows comparable dividend hikes in the previous two years by the real estate investment trust engaged in the acquisition, ownership and management of commercial real estate.

The next dividend is payable January 17, 2020 to stockholders of record on January 3, 2020. A new annualized dividend rate of $1.12 per share yields 4.7% at a stock price of $23.80.

According to UBA, the dividends declared will represent the 200th consecutive quarterly dividend on common shares declared since the company began operating in 1969. The company has now raised its dividend for 26 consecutive years.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 195 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 25 consecutive years.