Prepared Remarks:

Operator

Good day, everyone and welcome to the Crown Castle's Q3 2022 earnings call. As a reminder, today's call is being recorded. At this time, I would like to turn the conference over to Ben Lowe, senior VP of corporate finance. Please go ahead, sir.

Ben Lowe -- Senior Vice President, Corporate Finance

Great. Thank you, Melinda. And good morning, everyone. Thank you for joining us today as we discuss our third quarter 2022 results.

With me on the call this morning, are Jay Brown, Crown Castle's chief executive officer; and Dan Schlanger, Crown Castle's chief financial officer. To aid, the discussion, we have posted supplemental materials in the Investors section of our website at crowncastle.com that will be referenced throughout the call this morning. This conference call will contain forward-looking statements, which are subject to certain risks, uncertainties, and assumptions, and actual results may vary materially from those expected. Information about potential factors which could affect our results is available in the press release and the Risk Factors section of the company's SEC filings.

Our statements are made as of today, October 20, 2022, and we assume no obligation to update any forward-looking statements. In addition, today's call includes discussions of certain non-GAAP financial measures. Tables reconciling these non-GAAP financial measures are available in the supplemental information package in the Investors section of the company's website at crowncastle.com. So with that, let me turn the call over to Jay.

Jay Brown -- Chief Executive Officer

Thanks, Ben and thank you, everyone, for joining us on the call this morning. As you saw from our third quarter results, and the 6.5% increase to our dividend, we are seeing the benefits of a strong leasing environment as we support our customers' growth initiatives with their deployment of 5G. With this increase, we have grown dividends per share at a compound annual growth rate of 9%, since we established our long-term growth target of 7% to 8% per year in 2017, returning over $10 billion or 20% of our current market capitalization to shareholders over that period of time. Our customers have focused on utilizing towers during their initial deployment of 5G, resulting in the second consecutive year of 6% organic revenue growth in our tower business as we continue to outpace the industry.