Realty Income Increases Dividend for 73rd Time
Commercial property and national retail chain REIT Realty Income announced today its monthly dividend of $0.1818542 per share, a 0.2% increase from the payout made last month of $0.1815417 per share. While seemingly small, it represents the 73rd time the REIT has raised the monthly payout since it went public in 1994.
Commenting on the REIT's decision to raise the payout once again, Realty Income CEO John P. Case said, "With the payment of the October dividend, we will have made 519 consecutive monthly dividend payments and paid over $2.6 billion in dividends throughout our 44-year operating history."
The board of directors said the quarterly dividend is payable on October 15 to holders of record at the close of business on October 1. The regular dividend payment equates to a $2.182-per-share annual dividend, yielding 5.5% based on the closing price today of Realty Income's stock.
The article Realty Income Increases Dividend for 73rd Time originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.