Realty Income As of September 21, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
O $2.83 0.6% 3.1% 2.9%
Business yield Hike yrs 5 yr CAGR freq. paid since
Commercial REIT 4.2% 27 3.1% Monthly 1994
Realty Income hikes dividend by 0.2%

Realty Income Corporation (O) will raise its monthly dividend by another 0.2 percent to $0.2345 per share, marking the 5th dividend hike announced by the Dividend Aristocrat this year. Earlier this year the real estate investment trust already hiked its dividend 4 times for a total increase of 2.9 percent. If we include this latest increase just announced the FY 2020 dividend growth rate is 3.1 percent. Realty Income is a Dividend Aristocrat having raised its monthly dividend for 26 consecutive years in 2020.

The next dividend is payable on January 15, 2021 to shareholders of record as of January 4, 2021. A new annualized dividend amount of $2.814 per share yields 4.7% at a stock price of $60.

In the press release the company announces the new dividend hike and provides a comment."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 109th increase since our company's public listing in 1994. With the payment of the January dividend, we will have made 606 consecutive monthly dividend payments throughout our 51-year operating history."  

Last year Realty Income hiked its dividend five times for a total increase of 2.9 percent. This completed 25 consecutive years of annual dividend increases by the company. Dividend growth has been slowing down a bit since last year, but Realty Income had periods of slower dividend growth before like in 2014 when the dividend was hiked by only 0.7 percent. The biggest dividend increase was announced in 2013, when Realty hiked its dividend by a total of 20.0 percent. With this year's 3.1 percent increase Realty Income is growing the dividend faster than in 2019.

Currently Realty Income pays an estimated $971 million in dividends to its shareholders annually. Based on a closing stock price of $60.46, the current market cap of Realty Income is $22.2 billion.

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. The company's biggest tenants include Walgreens, 7-Eleven, FedEx, LA Fitness, AMC Theaters and Dollar Tree (including Family Dollar Stores).

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