Stag Industrial hikes dividend by 0.7%
STAG Industrial (STAG) will raise its monthly dividend by 0.7 percent to $0.120833 per share in the first quarter of 2021. This follows a similar dividend hike by the REIT in the past two years.
The first increased dividend of $0.120833 per share will be paid on February 16, 2021 to shareholders of record on January 29. The other payment dates announced for the Q1 dividend are March 15 and April 16.
The new annualized dividend rate of $1.45 per share yields 4.8% at a stock price of $30.24. STAG will now pay an estimated $230 million in dividends to shareholders annually. The dividend was last hiked by double digits in 2014 with a 10.0 percent increase.
STAG Industrial, Inc. is a real estate investment trust. The company is focused on the acquisition, ownership, and operation of single-tenant, industrial properties throughout the United States. The company is structured as an umbrella partnership REIT, also known as an UPREIT, and owns all of its properties and conducts substantially all of its business through an Operating Partnership, controlled and managed by the company. STAG completed its initial public offering of common stock on April 20, 2011.