Single-tenant industrial REIT STAG Industrial (NYSE: STAG) announced today its third-quarter dividend of $0.30 per share, the same rate it's paid for the past two quarters after raising the payout 11% from $0.27 per share.
The board of directors said the quarterly dividend is payable on October 15 to holders of record at the close of business on September 30. The board also announced third-quarter dividends for two series of preferred shares. For its 9% Series A cumulative redeemable preferred stock that trades on the NYSE under the symbol STAG Pr A, the industrial REIT is making a payout of $0.5625 per share, which equates to $2.25 per share on an annualized basis. For its 6.625% Series B cumulative redeemable preferred stock, which trades on the NYSE under the symbol STAG Pr B, it is paying out $0.4140625 per share, which equates to $1.65625 per share on an annualized basis.
The regular dividend payment equates to a $1.20-per-share annual dividend, yielding 5.8% based on the closing price today of STAG Industries' stock.
Fool contributor Rich Duprey and The Motley Fool have no position in any stocks mentioned. 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.