Real estate investment trust LTC Properties (NYSE:LTC) has boosted its monthly dividend to $0.17 per share of common stock, up 9.7% from its most recent September payout of $0.155 per share.

The REIT's next dividend will be payable Oct. 31 for shareholders of record as of Oct. 23. Additionally, the company will pay dividends on Nov. 29 and Dec. 31 to shareholders of record Nov. 21 and Dec. 23, respectively.

On an annualized basis, LTC's dividend adds up to $2.04. As of the market's close on Sept. 30, LTC Properties' stock was trading at a price of $37.98. This means the company has a dividend yield of 5.4%.