Realty Income Corp. has increased its monthly cash dividend 3.4 percent, marking the 67th dividend increase since the Escondido-based company went public in 1994.
A statement said the company’s board of directors approved the increase in the common stock monthly dividend, taking it from just over 14.6 cents per share to just over 15.1 cents per share. The dividend is payable Sept. 17 to shareholders of record as of Sept. 4.
CEO Tom Lewis said the new annualized dividend amount, at just over $1.81 per share, represents an increase of 3.4 percent per share over the prior figure. The company has now declared 506 monthly dividends and 59 consecutive quarterly dividend increases.
The real estate investment trust owns retail, industrial and related commercial properties. It trades under the symbol O on the New York Stock Exchange.