Back on March 14th Realty Income Corporation announced its 96th dividend increase since it listed on the NYSE in 1994. I first purchased Realty Income Corp in January so I was quite happy when I heard the announcement.
What is Realty Income Corp?
Realty Income, The Monthly Dividend Company, is an S&P 500 company dedicated to providing stockholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,000 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared 568 consecutive common stock monthly dividends throughout its 48-year operating history and increased the dividend 93 times since Realty Income’s public listing in 1994 (NYSE: O). The company has in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology, and capital markets capabilities.
With this raise the dividend increases to 21.95 cents from 21.90 cents.
I currently own 47 shares of the company so my income will increase by $0.03 per month or $0.36 annually.
Hopefully this will be the first of many raises from Realty Income Corp. Congrats to all my fellow shareholders as well.