Realty Income (O) will raise its monthly dividend by another 0.2 percent to $0.221 per share in the fourth quarter of 2018.

The increased dividend is payable on January 15, 2019 to shareholders of record as of January 2, 2019. The ex-dividend date for January's dividend is December 31, 2018.

The new monthly dividend represents an annualized dividend amount of $2.652 per share as compared to the current annualized dividend amount of $2.646 per share and yields 4% at a stock price of $66.30.

"We remain committed to our company's mission of paying dependable monthly dividends to our shareholders that increase over time," said Sumit Roy, President and Chief Executive Officer of Realty Income. "Our Board of Directors has once again determined that we are able to increase the amount of the monthly dividend to our shareholders, marking the 99(th) increase since our company's public listing in 1994. With the payment of the January dividend, we will have made 582 consecutive monthly dividend payments throughout our 49-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.