Duke Realty (DRE) will raise its quarterly dividend by 9.8 percent to 28 cents per share. This follows a dividend hike of 8.5 percent to 25.5 cents per share in 2020 by the industrial and medical offices REIT and marks 7 years in a row of dividend increases.
The next DRE dividend will be payable on November 30, 2021 to shareholders of record on November 16, 2021. A new annualized rate of $1.12 per share yields 2.0% at a stock price of $56.24.
Duke Realty Corporation is an industrial REIT. The company specializes in the ownership, management and development of bulk distribution real estate. Its properties are leased by a diverse base of tenants whose businesses include e-commerce, government services, manufacturing, retailing, wholesale trade, and distribution. As a fully integrated commercial real estate firm the company provides in-house leasing, management, development and construction services. Duke Realty launched its business in 1972 with the development of an industrial building in Indianapolis, IN. Currently the company has properties in 21 major logistics markets across the United States.