Rexford Industrial Realty (REXR) will raise its quarterly dividend by 16.2 percent to $0.215 per share in the first quarter of 2020. This follows last year's 15.6 percent dividend hike by the REIT last year.

The next dividend is payable in cash on April 15, 2020, to common stockholders and common unit holders of record as of March 31, 2020. The new annual divided rate fo 86 cents per share yields 1.7% at a stock price of $52.86.

"Our sustained growth enabled us to increase our quarterly dividend by 16.2%, representing a total increase in our dividend of 79.2% since our 2013 initial public offering.  Looking forward, we couldn't be more excited at the quality of internal and external growth opportunities before us as we remain focused on creating value for shareholders by investing in and improving industrial property throughout infill Southern California's highly-sought-after industrial property markets," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company in today's press release.

Rexford Industrial Realty, Inc. is a real estate investment trust (REIT) focused on owning and operating industrial properties throughout Southern California infill markets.  Through its controlling interest in operating partnership and its subsidiaries, the company owns, manages, leases, acquires and develops industrial real estate located in Southern California infill markets, and from time to time, acquires or provides mortgage debt secured by industrial property. Rexford Industrial became a public company in 2013.