Agree Realty (ADC) will raise its quarterly dividend by another 2.6 percent to $0.60 per share in the second quarter of 2020. Last year the shopping center REIT announced two dividend hikes for a total increase of 5.4 percent. Agree Realty has now raised its dividend 8 consecutive years.

The next dividend is payable July 10, 2020 to shareholders of record at the close of business on June 26, 2020. A new annualized dividend of $2.40 per share yields 3.8% at a stock price of $63.55 for Agree Realty.

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. Its community shopping centers include Capital Plaza, Frankfort; Central Michigan Commons, Mount Pleasant, and West Frankfort Plaza, West Frankfort. Agree Realty Corporation has paid a dividend to shareholders every year since 1993.