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This Magnificent Dividend Stock Has Now Increased Its 5.6%-Yielding Monthly Payout 130 Times

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Realty Income (NYSE: O) is on a mission to invest in places that enable it to deliver a dependable monthly dividend to its investors that increases over time. The real estate investment trust (REIT) has succeeded in its mission over three decades as a public company and recently declared its 130th dividend increase since coming public in 1994.

While its latest raise was relatively modest, it has continued to steadily increase its payout through good times and more challenging periods. The REIT firmly expects that upward trend to continue, making it a great stock to buy for a lucrative and rising passive-income stream.

Continuing to extend the streak

Realty Income recently declared its latest monthly dividend payment of $0.2685 per share ($3.222 annualized). That's a modest 0.2% increase from last month's level. However, it had raised its payment by 1.5% just last month and by 4.5% over the past year.

The REIT's latest raise is its 130th since coming public 30 years ago. It has increased its dividend every single year during that period, including the past 110 quarters in a row. It also has grown its dividend at a 4.3% compound annual rate over the past three decades.

"Realty Income's ability to generate consistent, reliable cash flow, even amid periods of market volatility, enables us to continue delivering monthly dividends that increase over time," commented CEO Sumit Roy in the press release declaring its latest dividend payment. The CEO noted that the dividend declaration underscores "the strength of our business model and our commitment to providing shareholders with dependable returns." He also said, "Our proven track record of stable growth is a testament to the resilience of our portfolio and our disciplined approach to investing."

Built on a firm foundation

Realty Income's high-quality global real estate portfolio is the key to delivering reliable and growing monthly dividends. It owns a diversified portfolio of properties net leased to the world's leading companies. The REIT focuses on owning properties secured by net leases because they provide stable income because the tenant covers all operating costs including routine maintenance, real estate taxes, and building insurance.

Realty Income also strives to be a real estate partner to the world's leading companies. That approach routinely gives it more opportunities to invest in high-quality real estate as its partners grow. Roy commented on this strategy during the REIT's fourth-quarter conference call.