Taubman Centers Inc. said Thursday it was raising its quarterly dividend by 5% to 62.5 cents a share from 59.5 cents a share. The mall real estate investment trust said the new dividend will be paid March 31 to shareholders of record on March 15. Based on current share prices, the new annual dividend rate implies a dividend yield of 3.62%, compared with the average dividend yield of the Real Estate Select Sector ETF’s components of 4.06%, and the aggregate S&P 500 dividend yield of 1.99%, according to FactSet. Taubman’s stock, which slipped 0.2% in morning trade, has lost 4.3% over the past three months, while the real estate ETF has gained 7% and the S&P 500 has climbed 9.1%.
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