Kimco Realty (KIM) will raise its dividend by 6.3 percent to 17 cents per share in Q1 of 2021. Last year the shopping mall real estate company hiked its dividend by 60 percent to 16 cents quarterly in Q4 of 2020 after the dividend was reinstated third quarter of 2020. Earlier in 2020 Kimco suspended its quarterly dividend because of the COVID-19 pandemic. 

The next dividend is payable on March 24, 2021, to shareholders of record on March 10, 2021. An annual dividend rate of 68 cents will yield 3.2% at a stock price of $21. The S&P500 company will now pay an estimated $294 million in dividends to shareholders annually, up from $277 million previously.

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y. The company owns and operates open-air shopping centers in North America. Kimco has specialized in acquisitions, development and management of shopping centers primarily concentrated in the top major metropolitan markets. Kimco Realty Corp had been paying a quarterly dividend to shareholders every year since 1992 before the suspension in 2020.