W. P. Carey (WPC) will raise its quarterly dividend by 0.2 percent to $1.040 per share, marking the company’s 76th consecutive quarterly dividend increase since going public in 1998. Last year W.P. Carey raised its dividend by a total of 0.8 percent.

The next dividend is payable on April 15, 2020 to stockholders of record as of March 31, 2020. The new annualized dividend rate of $4.16 per share yields 5.6% at a stock price of $73.88. The company has raised its dividend for 21 consecutive years and 2020 will mark the 22nd straight year of higher dividends.

W. P. Carey Inc. is a net lease commercial real estate investment trust that provides real estate-based financing solutions. The company invests in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry. W.P. Carey has paid a dividend every year since going public in 1998.