independence realty trust inc on wednesday said its board approved a 17 increase to the companys quarterly dividend and authorized a new sharerepurchase plan for up to 250 million of the companys common stock the sharerepurchase plan has no time limit the company said the new dividend of 14 cents will be payable on july 22 to shareholders of record at the close of business on july 1 the real estate investment trust said scott schaeffer the companys chairman and chief executive said todays announcement underscores the strength of our business model and our balance sheet while providing us with the flexibility to unlock value for our shareholders