Cousins Properties (CUZ) will raise its quarterly dividend by 3.4 percent to $0.30 per share in 2020. This follows a dividend hike of 11.5 percent by the REIT last year.

The next dividend will be payable on April 15, 2020, to common shareholders of record on April 3, 2020. The new annual dividend rate of $1.20 per share yields 5.1% at a stock price of $23.51.

Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets.