Sterling Real Estate Trust d/b/a Sterling Multifamily Trust increased its dividend payment for the first quarter to 24.75 cents apiece, an increase from the previous payout of 24 cents per share.

The company's board also increased the per-share and per-unit prices of its stock to $16.50 from $16.00, effective March 29. The share redemption and unit redemption prices were raised to $15.50 from $15.00.

The dividend is payable April 15 to shareholders of record as of March 31.