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Dividend Roundup: NLY, IDT, RLJ, AT, WPC

June 20, 2011 | About:
Here are the five latest dividend-related developments featured on The Dynamic Dividend:

Annaly Ups Dividend, Pushing Yield Over 14%

Annaly Capital Management, Inc. (NLY) declared a quarterly dividend of $0.65 per share after today’s closing bell, bumping its payout by 4.8%. This is the first dividend hike in a year from the agency mortgage REIT, which had reduced its payout each of the previous two quarters.

Annaly’s fat payout generally fluctuates from quarter to quarter. The company has paid anywhere from $0.55 to $0.75 per share in each of the last 12 quarters.

Shares of NLY closed Monday’s session trading at $18.50 — just a nickel off their 52-week high — where they now carry a 14.05% dividend yield.

IDT Raises Quarterly Dividend After Just Seven Months

IDT Corporation (IDT) declared a quarterly dividend of $0.23 per share after today’s closing bell, pushing its payout higher by 4.6% just two quarters after announcing it would begin returning cash to shareholders.

Shares of IDT closed Monday’s session trading at $24.83, where they now feature a 3.71% dividend yield. The stock is up more than 60% since IDT initiated its quarterly dividend on Nov. 8, 2010.

RLJ Lodging Trust Initiates Quarterly Dividend

RLJ Lodging Trust (RLJ) declared a prorated quarterly dividend of $0.08 per share after today’s closing bell, which will be the real estate investment trust’s first. The full implied quarterly rate is $0.15 per share.The hotel-focused REIT, which owns 140 hotels with a total of more than 20,400 rooms, completed its initial public offering on May 16.

Shares of RLJ closed today’s session trading at $17.85, where the implied quarterly rate produces a 3.36% dividend yield.

Atlantic Power to Acquire Capital Power, Raise Dividend

Atlantic Power Corporation (AT) announced an agreement to acquire Capital Power Income this morning. The power producer expects the deal to be immediately accretive to cash available for distribution, and therefore completion of the transaction will coincide with a 5% increase to its monthly dividend.

The company has distributed C$1.094 per share on an annual basis (or C$0.912 monthly) going back to December 2008. Following the deal, which is expected to close in the fourth quarter of 2011, Atlantic will raise its annual rate by 5% to $C1.15 per share.

Shares of AT closed Friday’s session trading at $15.41, where the current dividend rate (and exchange rate) produces a 7.22% yield. The anticipated post-transaction dividend rate would produce a 7.59% yield at Friday’s closing price.

Atlantic Power Corporation, which is incorporated in Canada but headquartered in Boston, has only been trading on the New York Stock Exchange for a little over a year, so most financial websites carry a limited amount of dividend data for the company. Its full dividend history can be constructed using this and this.

W.P. Carey's Record Distribution Hike Keeps Streak Alive

W.P. Carey & Co. LLC (WPC) declared a quarterly distribution of $0.55 per share on Thursday, a 7.1% increase over the $0.512 paid during the prior quarter and an 8.7% improvement over its payout during the same period last year.

This is the largest quarterly raise ever given to the investment management company’s shareholders, and that’s saying something given its rich history of payouts increases: W.P. Carey has now raised its distribution for 41 consecutive quarters.

Shares of WPC closed Friday’s session trading at $36.91, where they now yield 5.96%.

W.P Carey has raised its quarterly payout every quarter dating back to 2001, and every year since 1998. Most of the increases — excluding today’s, of course — have been nominal. As a result, the company has raised its dividend rate by a total of just 33.5% since 1998 despite all the activity.

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Dynamic Dividend
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