W. P. Carey (WPC) will raise its quarterly dividend by 0.2 percent to $1.038 per share, marking the company’s 75th consecutive quarterly dividend increase since going public in 1998. Last year W.P. Carey raised its dividend by a total of 2.0 percent.

The next dividend is payable on January 15, 2020 to stockholders of record as of December 31, 2019. The new annualized dividend rate of $4.152 per share yields 5.4% at a stock price of $77.60.

In today's press release Jason Fox, Chief Executive Officer, W. P. Carey, said: "We are extremely proud of our more than 20-year history of annual dividend increases, reflecting our commitment to providing rising income and building long-term value for our shareholders."

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.