Commercial real estate investment W. P. Carey (WPC) today announced that it will raise its quarterly dividend by another 0.2% to $1.059 per share. The next WPC dividend is payable on July 15, 2022 to stockholders of record as of June 30, 2022.

The new WPC quarterly cash dividend of $1.059 per share is equivalent to an annualized dividend rate of $4.24 per share, yielding 5.1% at a stock price of $82 for WPC. W.P. Carey has now raised its dividend for 24 consecutive years.

W. P. Carey Inc. is a net lease commercial real estate investment trust that provides real estate-based financing solutions. The company invests in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry. W.P. Carey has paid a dividend every year since going public in 1998.