First Industrial Realty Trust (FR) will raise its quarterly dividend by 8.7 percent to $0.25 per share in the first quarter of 2020. The real estate investment trust has now increased its dividend 7 consecutive years.

The next dividend is payable on April 20, 2020 to stockholders of record on March 31, 2020. A new annualized dividend rate of $1.00 per share yields 2.0% at a stock price of $45.85.

First Industrial Realty Trust, Inc. is a fully integrated owner, operator, and developer of industrial real estate. The company owns, manages, acquires, sells, develops and redevelops industrial real estate and is a Maryland corporation organized on August 10, 1993. As of December 31, 2018, the company owned 458 industrial properties located in 21 states, containing an aggregate of approximately 63.1 million square feet of gross leasable area (“GLA”). Of the 458 properties owned on a consolidated basis, none of them are directly owned by the company. First Industrial Realty reinstated a quarterly dividend in 2013. The dividend was suspended in 2009.