STAG Industrial Increases Common Stock Dividend
BOSTON, Oct. 30, 2014 /PRNewswire/ — STAG Industrial, Inc. (the “Company”) (NYSE:STAG), a real estate investment trust focused on the acquisition and management of single-tenant industrial properties throughout the United States, announced today that its Board of Directors approved a 2.3% increase in the Company’s common stock dividend from the current annual rate of $1.32 per share to $1.35 per share.
This increase commences with the payment of the January common stock dividend, paid in February. The Company’s Board declared a monthly dividend of $0.1125 per common share, for the months of January, February, and March 2015. The record and payment dates for the first quarter 2015 are as follows:
FIRST QUARTER 2015 DIVIDENDS DECLARED
|Month||Record Date||Payment Date||Dividend|
|January-2015||January 30, 2015||February 17, 2015||$0.1125|
|February-2015||February 27, 2015||March 16, 2015||$0.1125|
|March-2015||March 31, 2015||April 15, 2015||$0.1125|
The increased common stock dividend represents an annual distribution rate of 5.6%, based on the Company’s closing pricing on October 30, 2014 of $24.20 per share.