College dorm room operator Education Realty Trust announced today its second-quarter dividend of $0.11 per share, a 10% hike in the payout of $0.10 per share that it made last quarter.
The board of directors said the quarterly dividend is payable on Aug. 15 to the holders of record at the close of business on July 31. The collegiate-housing REIT has made quarterly payouts to investors since 2005.
The regular dividend payment equates to a $0.44-per-share annual dividend, yielding 4.2% based on the closing price of Education Realty Trust's stock on July 12.
The article Education Realty Graduates With 10% Dividend Hike originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.