Lamar Advertising (LAMR) will raise its quarterly dividend by 4.2 percent to $1.00 per share in the first quarter of 2020. This follows a 4.3 percent dividend hike by the outdoor advertising company last year.

The next dividend is payable on March 31, 2020 to stockholders of record on March 16, 2020. A new $4.00 per share annual dividend rate yields 4.8% at a stock price of $83.74. Lamar Advertising has now hiked its dividend 5 consecutive years.

Founded in 1902, Lamar Advertising is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out-of-home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with approximately 3,200 displays.