Agree Realty (ADC) will raise its quarterly dividend by another 3.3 percent to 62 cents per share quarterly in 2020. This follows a 2.6 percent hike to $0.60 per share in the second quarter of 2020. Last year the shopping center REIT also 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 January 6, 2021 to shareholders of record at the close of business on December 23, 2020. A new annualized dividend of $2.48 per share yields 3.7% at a stock price of $66.28  for Agree Realty.

If we include the dividend hike announced earlier this year the total dividend growth announced in 2020 is 6.0 percent. According to calculations made by dividendhike.com Agree Realty will now pay an estimated $134 million in dividends to shareholders annually.

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.