Realty Income Corp (O) announced a 3.92% increase in its cash dividend. The monthly cash dividend will increase from $0.191 to $0.1985 per share and payable on Feb 16, 2016 to shareholders on record as of Feb 01, 2016. Compared to the dividend a year ago, the current dividend rate is up 5%.
This is the 84th dividend increase from Realty Income since the company went public in 1994. The annual dividend rate goes up from $2.292 to $2.382. Yield going forward based on yesterday’s closing stock price is 4.56%.
From the press release statement:
“We are pleased that the continued strength in our operations allows us to increase the amount of the dividend we pay to our shareholders, while still maintaining a comfortable dividend coverage ratio,” said John P. Case, Chief Executive Officer of Realty Income. “With the payment of the February 2016 dividend, shareholders will enjoy an increase of 5% in the amount of their dividend as compared to the same month in 2015.”
My portfolio consists of 60 shares of Realty Income, which increases my annual dividends from $137.52 to $142.92, an increase of $5.40.