SAN DIEGO, Sept. 8, 2016 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company®, today announced its Board of Directors has declared an increase in the company's common stock monthly cash dividend to $0.202 per share from $0.2015 per share. The dividend is payable on October 17, 2016 to shareholders of record as of October 3, 2016. This is the 88th dividend increase since Realty Income's listing on the NYSE in 1994. The ex-dividend date for October's dividend is September 29, 2016. The new monthly dividend amount represents an annualized dividend amount of $2.424 per share as compared to the previous annualized dividend amount of $2.418 per share.
The Board of Directors also declared a dividend on the company's Monthly Income Class F preferred stock. The monthly dividend amount of $0.138021 on the Class F preferred shares is payable on October 17, 2016 to shareholders of record as of October 1, 2016. The annualized dividend amount for the Class F preferred shares is $1.65625 per share.
"We are pleased that our Board of Directors has once again determined that we are able to increase the amount of the monthly dividend we pay to our shareholders," said John P. Case, Chief Executive Officer of Realty Income. "With the payment of the October dividend, we will have made 555 consecutive monthly dividend payments and paid over $4.3 billion in dividends throughout our 47-year operating history."
About the Company
Realty Income, The Monthly Dividend Company®, is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 4,600 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, the company has declared 555 consecutive common stock monthly dividends throughout its 47-year operating history and increased the dividend 88 times since Realty Income's public listing in 1994 (NYSE: O). The company has in-house acquisition, portfolio management, asset management, credit research, real estate research, legal, finance and accounting, information technology, and capital markets capabilities. Additional information about the company can be obtained from the corporate website at www.realtyincome.com.
Statements in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, tenant financial health, the availability of capital to finance planned growth, continued volatility and uncertainty in the credit markets and broader financial markets, property acquisitions and the timing of these acquisitions, charges for property impairments, and the outcome of legal proceedings to which the company is a party, as described in the company's filings with the Securities and Exchange Commission. Consequently, forward-looking statements should be regarded solely as reflections of the company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/88th-common-stock-monthly-dividend-increase-declared-by-realty-income-300325258.html
SOURCE Realty Income Corporation