Simon Property Group
New Dividend: $1.05 per share
Dividend Percent Increase: 5%Current Yield: 2.64% >>7 Stocks for a Housing Rebound Real estate investment trust Simon Property Group (SPG) was the biggest firm to increase its dividend payout last week, hiking its dividend 5% to $1.05 per share. Simon owns more than 245 million leasable square feet of mall, outlet, and shopping center space spread across the globe, making it the largest retail REIT in the country. That unique positioning makes SPG a purpose-built dividend machine. Most publicly traded commercial REITs lease properties on a "triple net" basis. That means that it's the renters, not the REIT, that's responsible for big variable costs like taxes, insurance, and maintenance on properties. Combine that predictable revenue stream with a tax status that requires the firm to pay the vast majority of its income out as dividends, and SPG is built to pay income.