Not only will following the north star help you find your way when lost, but it will lead you to riches, too. NorthStar Realty Finance (NYSE:NRF) announced yesterday it will pay a regular quarterly dividend of $0.19 per share on May 17 to the holders of record at the close of business on May 13.
NorthStar says the payout represents a 90% increase from what it delivered seven quarters ago. The commercial real estate investment trust has paid a dividend every quarter since 2005, but in 2009, at the height of the financial crisis, it slashed the payout 60%, to $0.10 per share. Beginning in November 2011, NorthStar began increasing its dividend again, and yesterday's announcement put the payment at nearly double the level it was at the time.
NorthStar is a diversified commercial REIT and asset management company that is organized as an internally managed REIT.
The most recent dividend payment equates to a $0.76-per-share annual dividend yielding 7.8%, based on the closing price of NorthStar Realty Finance's stock on May 1.