Realty Income (O) will raise its monthly dividend by 0.2 percent to $0.2125 per share in the first quarter of 2018. Including today, the real estate investment trust has hiked its dividend five times in 2017 by a total of 4.9 percent.
The dividend is payable on January 12, 2018 to shareholders of record as of January 2, 2018. The new dividend yield for O is 4.5%.
"We are pleased that our Board of Directors has once again determined that we are able to increase the amount of the monthly dividend we pay to our shareholders," said John P. Case, Chief Executive Officer of Realty Income. "With the payment of the January dividend, we will have made 570 consecutive monthly dividend payments and paid over $5.2 billion in dividends throughout our 48-year operating history."
Realty Income Corporation is a real estate investment trust (REIT) with properties owned under long-term lease agreements with regional and national commercial tenants. The Company has tenants active in 48 segments, including Apparel, Automotive tire services, Beverages, Child care, Convenience stores, Dollar stores, Drug stores, Financial services, Food processing, Grocery stores, Health and fitness, Health care, Home improvement, Restaurants-casual dining, Restaurants-quick service, Sporting goods, Theaters, Transportation services and Wholesale club.