Realty Income (O) will raise its monthly dividend by 3.1 percent to $0.219 per share in the first quarter of 2018. Last year O hiked its dividend five times for a total of 4.9 percent.

The dividend is payable on February 15, 2018 to shareholders of record as of February 1, 2018. The new dividend yield for Realty Income is 5.0%.

"We are pleased that the continued success of our operations has allowed us to increase the amount of the dividend we pay to our shareholders, while still maintaining a strong dividend coverage ratio," said John P. Case, Chief Executive Officer of Realty Income. "With the payment of the February 2018 dividend, shareholders will enjoy an increase of 4% in the amount of their dividend as compared to the same month in 2017."

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.