Urstadt Biddle Properties Inc. lifted the annualized dividend rate on its common shares and class A common shares by 2 cents per share.

On a quarterly basis, the shopping center real estate investment trust increased the dividend rates for its common stock to 25 cents per share and its class A common stock to 28 cents per share.

The dividends are payable Jan. 17, 2020, to stockholders of record on Jan. 3, 2020.