Commercial property and national retail chain REIT Realty Income (NYSE:O) announced yesterday its monthly dividend payment of $0.1815417 per share, a 0.2% increase from the payout made last month of $0.1812292 per share. While seemingly small, it represents the 72nd time the REIT has raised the monthly payout since it went public in 1994.
The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on July 1. The REIT has declared 516 consecutive monthly dividends throughout its 44-year operating history.
The regular dividend payment equates to a $2.179-per-share annual dividend, yielding 4.9% based on the closing price of Realty Income's stock on June 18.
Fool contributor Rich Duprey and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.