American Tower hikes dividend by 2.8%

On September 22, 2022, American Tower Corporation (AMT) announced a 2.8% dividend hike to $1.47 quarterly per share. This is the third dividend increase in 2022 for a total hike of 5.8%. American Tower Corporation announced that its board of directors has declared its quarterly cash distribution of $1.47 per share on shares of the Company’s common stock. The distribution is payable on October 26, 2022 to the stockholders of record at the close of business on October 11, 2022.

American Tower Corporation has now raised the dividend for 10 consecutive years. The average 5 year dividend growth rate is 16 percent annually. The company now pays an estimated $2.68 billion in dividends to shareholders annually. The dividend yield for AMT is 2.5% at a stock price of $230.

American Tower Corporation is one of the largest global Real Estate Investment Trusts (REITs) and a independent owner, operator and developer of multitenant communications real estate. The company's primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. In addition, AMT offers tower-related services in the United States. The company's communications real estate portfolio includes over sites in the United States, Asia, Europe, Middle East and Africa (EMEA) and Latin America. American Tower Corporation was originally created as a subsidiary of American Radio Systems Corporation in 1995 and was spun off into a free-standing public company in 1998.