Four Corners Property Trust hikes dividend by 4.1%

Four Corners Property Trust (FCPT) will raise its quarterly dividend by 4.1 percent to 31.75 cents per share in 2020. This follows a 6.1 percent increase to $0.3050 per last year and marks 4 consecutive years of higher dividends announced by the REIT.

The next dividend is payable on January 15, 2021 to shareholders of record as of January 4, 2021. A new annualized dividend rate of $1.27 per share yields 4.7% at a stock price of $27.21.

Four Corners Property Trust, Inc., headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. FCPT will seek to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry.