WP Carey hikes dividend by 0.2%

W. P. Carey Inc. (WPC) reported today that its Board of Directors increased its quarterly cash dividend to $1.069 per share, equivalent to an annualized dividend rate of $4.28 per share. The dividend is payable on July 14, 2023 to stockholders of record as of June 30, 2023. The dividend yield for WPC is 6.08%.

W. P. Carey Inc. is a net lease commercial real estate investment trust that provides real estate-based financing solutions. The company invests in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry. W.P. Carey has paid a dividend every year since going public in 1998.