American Tower (NYSE:AMT) has added a little juice to its shareholder payout. The company declared its latest quarterly dividend, which is to be $0.28 per share paid on October 7 to shareholders of record as of September 23. That amount is $0.01, or 4%, higher than the firm's preceding disbursement of $0.2, which was paid in July.

Since initiating dividend payments with a $0.35 per-share distribution in December 2011, American Tower has paid a different amount in every quarter. Following that initial payout, the company has steadily lifted its disbursement from $0.21 in April 2012, to the present level.

The just-declared dividend annualizes to $1.12 per share. That yields 1.5% at American Tower's most recent closing stock price of $74.12.

Fool contributor Eric Volkman has no position in American Tower. The Motley Fool recommends American Tower. The Motley Fool owns shares of American Tower and has the following options: short September 2013 $70 puts on American Tower. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.