Prologis Boosts Dividend By Nearly 5%

By Tomi Kilgore Markets MarketWatch Pulse

Prologis Inc. said Thursday that it raised its quarterly dividend by nearly 5% to 44 cents a share from 42 cents a share. The logistic real estate company's new dividend will be payable March 31 to shareholders of record on March 15. Based on current share prices, the new annual dividend rate of $1.76 a share represents a dividend yield of 3.49%, compared with the aggregate S&P 500 dividend yield of 2.01%, according to FactSet. The stock, which was up 0.2% in afternoon trade, has run up 33% over the past three months, while the SPDR Real Estate Select Sector ETF has gained 6.6% and the S&P 500 has rallied 23%.

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