These 4 stocks raised their dividends by up to 10% in August

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Several companies raised their dividends in August, boosting investor confidence in a month marked by economic uncertainty. Dividend increases signal a company’s financial health and reward long-term shareholders with increased dividend income.

Let’s examine four dividend stocks that raised their dividends last month, reinforcing their commitment to returning value to investors.

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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 lifecycle management, secure destruction and art storage and logistics.

On August 1st, Iron Mountain increased its dividend by 10%. The company now pays a quarterly dividend of $0.715 per share, which equates to an annual dividend of $2.86 per share and gives its stock a yield of 2.6% at the time of writing.

This was the second time Iron Mountain has raised its dividend since 2023, and its management team said it plans to continue increasing its dividend alongside growing 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 shopping, dining, entertainment and mixed-use properties. As of June 30, it owned or had interests in 230 properties comprising approximately 183 million square feet in North America, Asia and Europe.

On August 5, SPG increased its dividend by 2.5%. The company now pays a quarterly dividend of $2.05 per share, which equates to an annual dividend of $8.20 per share and gives its stock a 5% yield at the time of writing.

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

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The story continues

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 with approximately 27 million square feet in major markets including Boston, Chicago, Miami, New York City, Philadelphia and Washington, DC.

On August 1st, Federal Realty raised its dividend by 0.9%. The company now pays a quarterly dividend of $1.10 per share, which equates to an annual dividend of $4.40 per share and gives its stock a yield of 3.8% at the time of writing.

Incredibly, this dividend increase marked the 57th consecutive year that Federal Realty has increased its dividend, the longest streak 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 included 292 industrial buildings, excluding nine properties under development or redevelopment, with approximately 18.1 million square feet.

On August 7th, Terreno increased its dividend by 8.9%. The company now pays a quarterly dividend of $0.49 per share, which equates to an annual dividend of $1.96 per share and gives its stock a yield of 2.9% at the time of writing.

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

Better returns than some REITs?

The current high interest rate environment has created an incredible opportunity for income investors to earn massive returns, but not through REITs.

Arrived Homes, the investment platform backed by Jeff Bezos, has launched its Private Credit Fund, which provides access to a pool of short-term loans backed by residential real estate with a target net annual return of 7% to 9% paid investors monthly. It paid 8.1% in July. The best part? Unlike other private credit funds, this one has a minimum investment of just $100.

As long-term rates fall and short-term rates remain high, there is a unique opportunity to invest in fix & flip loans before yields fall. Check out Benzinga’s favorite high yield deals.

This article These 4 Stocks Raised Their Dividends Up to 10% in August originally appeared on Benzinga.com