Kimco Realty's board has raised the real-estate investment trust's quarterly dividend by 7.7%, to 28 cents from 26 cents.

The new payout, equal to $1.12 a year, represents an annual yield of about 4.41% based on Monday's closing price of $25.41, up from 4.09%

The Jericho, N.Y., company on Tuesday said the increased divided is payable Sept. 17 to shareholders of record Sept. 4.