Realty Income Raises Monthly Dividend for the 136th Time
Realty Income Corporation (NYSE: O) announced a small increase in its monthly dividend, raising it to $0.2715 per share from $0.2710. This marks the company's 136th consecutive dividend hike since listing on the NYSE in 1994, underscoring one of the longest and most consistent records among REITs for income growth. The new annualized rate is approximately $3.258 per share, yielding around 5.5% at current prices between $59-$60. Investors benefit from monthly payouts rather than quarterly ones, offering a more frequent cash flow stream. The increase of about 0.18% reflects Realty Income's strategy of prioritizing sustainable and gradual dividend growth over large jumps. Over the past six years, the annualized payout has risen steadily from $2.814 in 2020 to today’s level. The company maintains a strong cash flow position with an AFFO (adjusted funds from operations) payout ratio around 75%, indicating that its dividend is well-supported by recurring income and leaves room for reinvestment. Realty Income's portfolio of over 15,600 properties leased to nearly 1,800 tenants across diverse industries provides a stable foundation for consistent rental revenue. This stability supports the company’s long-term ability to maintain its monthly dividend payments.
Tickers: $O
Topics: dividend growth income investing real estate investment trusts (REITs)