American Tower (NYSE:AMT) has declared a higher quarterly dividend, its first payout for 2013. The wireless infrastructure company will hand out $0.26 per share of its stock on April 25 to shareholders of record as of April 10. That amount is 8% higher than the company's previous disbursement of $0.24, which was paid in December.
American Tower has steadily increased its payout since the beginning of 2012, when it disbursed $0.21. In each of the remaining three quarters of that year, it lifted that amount by $0.01.
The new dividend annualizes to $1.04 per share. That yields 1.4% at American Tower's current stock price of $76.03.
Fool contributor Eric Volkman has no position in American Tower. The Motley Fool recommends American Tower. 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.