Realty Income (O) announced a 0.26% increase in its cash dividends for common stockholders. I was surprised by this move, especially after Realty Income increased its dividend by 3% in January. The monthly dividend increases from $0.189 to $0.1895 per share. The dividend is payable on Apr 15, 2015 to shareholders of record as of Apr 1, 2015. This is the 80th dividend increase since Realty Income went public in 1994.
From the press release statement:
“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 April dividend, we will have made 537 consecutive monthly dividend payments and paid over $3.4 billion in dividends throughout our 46-year operating history.“
The new dividend amount represents an annualized dividend amount of $2.274, up from $2.268 per share. My portfolio consists of 60 shares of Realty Income and the new increase bumps up my annual dividends from $136.08 to $136.44, an increase of $0.36.
R2R, Slow and steady wins the race and O is a prime example of this. Glad to be a fellow shareholder and here’s many more piddly dividend increases to come. Now off to see how many extra pennies this raise affords me.
Best,
DWC
Yeah…its not much at all, but its still something…that small increase keeps building on previous small increases. Congrats on the raise.
R2R
Gotta hand it to these guys, they really live up to their moniker as the ‘monthly dividend company’. All of these little raises keep adding up along with the nice 3% boost in Jan of course.
Captain,
They sure know how to keep that momentum going. Instead of waiting a whole year for another increase, its great to get a fraction of a percentage to compound over the year.
Best
R2R
Wow, very surprising and glad to hear. This is one of my favorite purchases so far. Thanks for sharing and have a great week, R2R.
Likewise, Ryan. I didnt expect more raises after their 3% raise in Jan…but glad to hear this one.
cheers
R2R
Same here, completely didn’t expect them to bump up the dividend again. But hey, I’ll take it! All of these tiny increases really add up. I think this will get me an extra penny or two.
Enjoy your raise!
Absolutely! Any extra pennies are welcome 🙂
You enjoy your raise as well!
R2R
Got to love those consistent raises from O. They might not be gangbuster raises but they add up to solid increases throughout the year.
Agreed, JC. Thats the beauty of DGI…a small percentage increase might seem pointless, but overtime that compounds beautifully.
R2R
Haha. Raises my annual dividend by 31 cents. Every little bit counts, I guess. And, at least we had that nice 3% increase earlier. You’d hate to resort to continuing the streak of consecutive quarterly increases with a 0.26% increase, though technically it would still count.
Thanks for sharing!
Anything counts, for sure. I was wondering if they would have anymore quarterly raises after the 3% hike in January…but its good to see that the trend continues.
Thanks for stopping by
R2R
Thanks for the article. O is on my watchlist for now…hopefully in my portfolio one day.
Great stock to own, DD. Hope to see you as a fellow shareholder sometime.
R2R