Shopping center operator DDR (NYSE:DDR) announced yesterday its second-quarter dividend of $0.135 per share, a 12.5% increase over the $0.12 per share rate it paid last quarter.

The board of directors said the quarterly dividend is payable on July 2 to the holders of record at the close of business on June 13. DDR has increased its annual dividend five times over the past three years.

The regular dividend payment equates to a $0.54-per-share annual dividend yielding 2.8%, based on the closing price of DDR's stock on May 15.

DDR Dividend Chart

DDR Dividend data by YCharts

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