ESCONDIDO, Calif., Feb. 16 /PRNewswire/ -- Realty Income Corporation
(Realty Income), "The Monthly Dividend Company" (NYSE: O) today announced that
its Board of Directors declared a common stock dividend of $0.1800 per share,
payable on March 15, 2000 to shareholders of record as of March 1, 2000. The
dividend represents an annualized rate of $2.16 per share.
The Board of Directors also declared dividends on the Company's Class B
and C preferred stock, which are payable on March 31, 2000 to shareholders of
record as of March 15, 2000. The quarterly dividend on the Class B preferred
stock is $0.5859 per share, for an annualized rate of $2.34 per share. The
monthly dividend on the Class C preferred stock is $0.1979 per share for an
annualized rate of $2.375 per share.
Realty Income also announced that Kathleen R. Allen, Ph.D. has joined its
Board of Directors. This brings the number of independent directors of the
Company to six persons and the total number of board members to seven persons.
Dr. Allen brings a wealth of experience to Realty Income's Board of
Directors. She is currently the Coordinator of the Marshall School of
Business, Undergraduate Entrepreneur Program at the University of Southern
California, where she has served as a professor since 1991. She is also the
author of ten highly respected books in the field of entrepreneurship and
technology, a field in which she is considered an expert. In addition to her
academic and professional writing activities, Dr. Allen is co-founder,
Chairman and Chief Financial Officer of Gentech Corporation, a manufacturer of
industrial power source equipment, as well as a consultant to two medical
technology ventures and Microsoft Corporation.
Realty Income, "The Monthly Dividend Company," is a New York Stock
Exchange real estate company dedicated to providing shareholders with
dependable monthly income. The monthly dividend is supported by the cash
flows from 1,076 retail properties owned under long-term lease agreements with
leading regional and national retail chains. The Company is an active buyer
of net-leased retail properties nationwide.
SOURCE Realty Income Corporation
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Related links:
http://www.realtyincome.com
CONTACT:
Tere Miller, Vice President, Corporate
Communications of Realty Income Corporation, 760-741-2111, ext.
177
NOTE TO EDITORS: Realty Income press releases are available at no
charge by calling our toll-free investor hotline number:
888-811-2001, or by visiting the Company's website at
http://www.realtyincome.com.
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