These 4 Stocks Raised Their Dividends By Up To 10% In August

Joey Solitro

Fri, Sep 6, 2024, 9:06 AM 4 min read

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Iron Mountain

Iron Mountain (NYSE:IRM) is one of the world's leading providers of information management services, including digital transformation, secure records storage, asset life cycle management, secure destruction, and art storage and logistics.

On Aug. 1, Iron Mountain raised its dividend by 10%. The company now pays a quarterly dividend of $0.715 per share, equating to an annualized dividend of $2.86 per share and giving its stock a 2.6% yield at the time of this writing.

This was the second time Iron Mountain has raised its dividend since 2023, and its management team has stated that it plans to continue growing its dividend alongside growth in its adjusted funds from operations (AFFO) over the long term.

Simon Property Group, Inc.

Simon Property Group (NYSE:SPG) is one of the world's leading owners and managers of premier shopping, dining, entertainment, and mixed-use properties. As of June 30, it owned or had ownership interests in 230 properties comprising approximately 183 million square feet across North America, Asia, and Europe.

On Aug. 5, SPG raised its dividend by 2.5%. The company now pays a quarterly dividend of $2.05 per share, equating to an annualized dividend of $8.20 per share and giving its stock a 5% yield at the time of this writing.

This dividend increase marked the 11th time SPG has raised its dividend since 2021, making SPG one of the most attractive dividend-growth stocks in the retail REIT industry.

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Federal Realty Investment Trust

Federal Realty Investment Trust (NYSE:FRT) is a REIT focused on retail and mixed-use properties in the United States. As of June 30, it owned 102 properties containing approximately 27 million square feet across major markets, including Boston, Chicago, Miami, New York City, Philadelphia, and Washington, D.C.

On Aug. 1, Federal Realty raised its dividend by 0.9%. The company now pays a quarterly dividend of $1.10 per share, equating to an annualized dividend of $4.40 per share and giving its stock a 3.8% yield at the time of this writing.

Incredibly, this dividend increase marked the 57th consecutive year in which Federal Realty raised its dividend, the longest consecutive record in the REIT industry.

Terreno Realty Corporation

Terreno Realty Corporation (NYSE:TRNO) is a REIT focused on industrial properties in the United States. As of June 30, its portfolio comprised 292 industrial buildings, excluding nine properties under development or redevelopment, containing approximately 18.1 million square feet.

On Aug. 7, Terreno raised its dividend by 8.9%. The company now pays a quarterly dividend of $0.49 per share, equating to an annualized dividend of $1.96 per share and giving its stock a 2.9% yield at the time of this writing.

Terreno has raised its annual dividend payment every year since its initial public offering in 2011, so 2024 will mark the 13th consecutive year with an increase.

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This article These 4 Stocks Raised Their Dividends By Up To 10% In August originally appeared on Benzinga.com

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