STAG Industrial, Inc. (STAG) said Monday that its Board of Directors has approved an 11.1% increase in the company's annual common stock dividend from the current annual rate of $1.08 per share to $1.20 per share.
The increase commences with the payment of the first quarter common stock dividend, payable on April 15 to all common stockholders of record on March 28, and will amount to $0.30 per share on a quarterly basis.
The company also said its Board of Directors has declared a March 15 record date for the payment of the first quarter preferred stock dividend for the company's 9.0% Series A Cumulative Redeemable Preferred Stock. The company confirmed that the dividend is $0.5625 per share, or $2.25 per share on an annualized basis and will be payable on April 1.
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