Apartment Investment and Management Company (AIV) will raise its quarterly dividend by 5.1 percent to $0.41 per share in the first quarter of 2020. This marks the 8th consecutive year of annual dividend increases by the REIT.

The dividend will be payable on February 28, 2020, to stockholders of record as of February 14, 2020. A new annual dividend rate of $1.64 per share yields 3.1% at a stock price of $52.71.

Apartment Investment and Management Company  (Aimco) is a real estate investment trust that is focused on the ownership and management of apartment communities located in the United States. It operates through two segments: conventional real estate and affordable real estate. Aimco’s affordable portfolio consists primarily of apartment communities that it manages that are owned through low-income housing tax credit partnerships. Aimco is one of the country’s largest owners and operators of apartments, with ownership interests in 124 apartment communities in 17 states and the District of Columbia.