While Others Are Cutting, W.P. Carey Is Raising Its Dividend
Like its peers, real estate investment trust (REIT) W.P. Carey (NYSE: WPC) is working through the difficult economic conditions that COVID-19 has brought to the world. However, there's a material difference here. While other REITs are effectively resetting their businesses, Carey's recent decision to raise its dividend (again) is making a very different statement. Carey is telling investors that, despite the headwinds today, nothing has changed for this unique REIT.
As far as dividend increases go, Carey's most recent hike, at just 0.02%, was pretty modest. But the size of the increase isn't what's important. The fact is that there are far more real estate investment trusts cutting dividends right now than raising them. The increase was a statement. It signals to investors that the company's unique business model is holding up under the strain.
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Source Fool.com
