San Diego-based Realty Income Corp. recently announced that its board of directors has approved a 5 percent increase in the company’s common stock monthly cash dividend.
A company statement said the dividend has been increased from $0.191 per share, to $0.1985 per share. The dividend is payable on Feb. 16, 2016, to shareholders of record as of Feb. 1, 2016.
Officials said this is the 84th dividend increase since Realty Income’s listing on the New York Stock Exchange in 1994. CEO John P. Case said the raising of the dividend, up 5 percent from February 2015, was made possible by continued strength in the company’s operations.
Headquartered in Carmel Valley, Realty Income (NYSE: O) is a real estate investment trust that invests primarily in retail, industrial and related commercial properties.