Tuesday, May 21, 2024

Dividend Increase - Realty Income Corporation (O)


Friday, May 17th the Board of Directors of Realty Income Corporation (O) announced a monthly dividend increase of from $0.2570 to $0.2625 per share that’s payable June 14, 2024 to holders of record June 3, 2024. This represents a 2.14% increase over the last monthly dividend.

"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 current price $54.98 (today's open), this raise brings their dividend yield to 5.73%.

Realty Income is a Dividend Champions with a 31 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.8, 3.0, 3.0 and 3.6 (Dividend Champions.xls)

Since I own 190 shares of Realty Income, this will increase my portfolio's projected annual net dividend income by $9.34.

This increase raises my Yield on Cost to 5.01%.

Summary of 2024 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long O

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