STAG Industrial (STAG)  will raise its monthly dividend by 0.7 percent to $0.12 per share in the first quarter of 2020. This follows a similar dividend hike by the REIT last year.

The first increased dividend of 12 cents will be paid on February 18, 2020 to shareholders of record on January 31. The other payment dates announced for the Q1 dividend are March 16 and April 15.

The new annualized dividend rate of $1.44 per share yields 4.5% at  a stock price of $31.72. The company's portfolio consists of 430 properties in 37 states with approximately 86.0 million rentable square feet as of September 30, 2019.

STAG Industrial, Inc. is a real estate investment trust. The company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The company is structured as an umbrella partnership REIT, also known as an UPREIT, and owns all of its properties and conducts substantially all of its business through an Operating Partnership, controlled and managed by the company.  STAG completed its initial public offering of common stock on April 20, 2011.