Realty Income Announces Common Stock Dividend Increase of 2.1% and Declares Preferred Stock Quarterly Dividend
Realty Income (NYSE: O) has announced a 2.1% increase in its common stock monthly cash dividend, raising it to $0.2625 per share from $0.2570 per share. This marks the 125th dividend increase since the company's NYSE listing in 1994. The new dividend will be payable on June 14, 2024, to stockholders of record as of June 3, 2024, and represents an annualized amount of $3.150 per share.
Additionally, Realty Income has declared a quarterly cash dividend of $0.3750 per share for its 6.00% Series A Cumulative Redeemable Preferred Stock, payable on June 28, 2024, to preferred stockholders of record as of June 14, 2024. The company emphasizes its mission to provide dependable and growing monthly dividends, having declared 647 consecutive monthly dividends throughout its 55-year operating history.
- 2.1% increase in common stock monthly cash dividend to $0.2625 per share.
- 125th dividend increase since NYSE listing in 1994, reflecting consistent growth.
- Annualized dividend amount rises to $3.150 per share from $3.084 per share.
- 647 consecutive monthly dividends declared over 55 years, showcasing reliability.
- Quarterly cash dividend of $0.3750 per share announced for 6.00% Series A Cumulative Redeemable Preferred Stock.
- The increase in the common stock dividend is relatively small at 2.1%, which may not significantly impact investor returns.
- The preferred stock dividend remains unchanged, offering no additional financial benefit to preferred shareholders.
"Realty Income's mission is to provide stockholders with a dependable monthly dividend that grows over time," said Sumit Roy, Realty Income's President and Chief Executive Officer. "This is the 107th consecutive quarter that we have declared a dividend increase since our 1994 NYSE listing and represents the 647th consecutive monthly dividend throughout our 55-year operating history. With the payment of the June dividend, stockholders will realize a
Realty Income also announced it has declared a quarterly cash dividend of
About Realty Income
Realty Income (NYSE: O), an S&P 500 company, is real estate partner to the world's leading companies. Founded in 1969, we invest in diversified commercial real estate and have a portfolio of over 15,450 properties in all 50 U.S. states, the
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. When used in this press release, the words "estimated," "anticipated," "expect," "believe," "intend," "continue," "should," "may," "likely," "plans," and similar expressions are intended to identify forward-looking statements. Forward-looking statements include discussions of our business and portfolio, cash flows, intentions of management and dividends, including the amount, timing and payment of dividends. Forward-looking statements are subject to risks, uncertainties, and assumptions about us, which may cause our actual future results to differ materially from expected results. Some of the factors that could cause actual results to differ materially are, among others, our continued qualification as a real estate investment; general domestic and foreign business, economic, or financial conditions; competition; fluctuating interest and currency rates; inflation and its impact on our clients and us; access to debt and equity capital markets and other sources of funding (including the terms and partners of such funding); continued volatility and uncertainty in the credit markets and broader financial markets; other risks inherent in the real estate business including our clients' solvency, defaults under leases, increased client bankruptcies, potential liability relating to environmental matters, illiquidity of real estate investments, and potential damages from natural disasters; impairments in the value of our real estate assets; changes in domestic and foreign income tax laws and rates; property ownership through joint ventures, partnerships and other arrangements which may limit control of the underlying investments; epidemics or pandemics including measures taken to limit their spread, the impacts on us, our business, our clients, and the economy generally; the loss of key personnel; the outcome of any legal proceedings to which we are a party or which may occur in the future; acts of terrorism and war; the anticipated benefits from mergers and acquisitions including from the merger with Spirit Realty Capital, Inc.; and those additional risks and factors discussed in our reports filed with the
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SOURCE Realty Income Corporation
FAQ
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