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%.


Fool contributor Caroline Bennett has no position in any stocks mentioned. The Motley Fool has no position in any of the 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.