Realty Income Corp. has increased the monthly cash dividend on its common stock for the 59th consecutive quarter and the 66th time since going public in 1994, the Escondido-based company announced June 19.
A company statement said the board of directors recently voted to raise the dividend from just over 14.58 cents per share, to just over 14.61 cents per share. The dividend is payable on July 16 to shareholders of record as of July 2.
The new monthly dividend represents an annualized dividend amount of just over $1.753 per share, compared with the previous figure of just over $1.749 per share. The company continues a long-term policy of paying dividends on a monthly rather than quarterly basis.
“With the payment of the July dividend, we will have made 504 consecutive monthly dividend payments,” said CEO Tom Lewis in the statement.
The real estate investment trust acquires retail, industrial and other commercial properties. It trades under the symbol O on the New York Stock Exchange.