Commercial property and national retail chain REIT Realty Income (NYSE: O ) 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.