Long-term care REIT LTC Properties (NYSE:LTC) announced today three months of dividend payments of $0.155 per share for its third quarter, the same rate it's paid for the past year after having raised the dividend 7% from $0.145 per share.
The board of directors said the monthly dividends are payable on July 31, Aug. 30, and Sept. 30 to holders of record at the close of business on July 23, Aug. 22, and Sept. 20, respectively. The REIT has made monthly payouts to investors since 2005 and before that paid quarterly dividends beginning in 1992.
The regular dividend payment equates to a $1.86-per-share annual dividend, yielding 4.8% based on the closing price of LTC Properties' stock on June 28.
Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.