ESCONDIDO, Calif., March 16 /PRNewswire/ -- Realty Income Corporation
(Realty Income), "The Monthly Dividend Company," (NYSE: O) today announced
that its Board of Directors has declared an increase in the amount of the
monthly dividend on its common stock to $0.18125 per share from $0.1800 per
share. This is the tenth consecutive quarter in which the Company has
increased the amount of its monthly dividend. The dividend is payable on
April 17, 2000 to stockholders of record as of April 3, 2000. The new
dividend amount represents an increase in the annualized rate to $2.175 per
share from $2.16 per share. The Company continues its policy of declaring
common stock dividends on a monthly, not quarterly, basis.
Tom A. Lewis, Chief Executive Officer of Realty Income, commented, "We are
very pleased to have been able to increase the amount of our monthly dividend
again this quarter. A primary goal of our Company is to produce consistent
ongoing results for our shareholders. Increasing the amount of the dividend
on a regular basis is the best evidence we can give our shareholders of our
progress towards this goal."
The Board of Directors also declared the monthly dividend on the Company's
Class C preferred stock which is payable on May 1, 2000 to shareholders of
record as of April 15, 2000. The monthly dividend on the preferred C stock is
$0.1979 per share, which represents an annualized rate of $2.375 per share.
Realty Income is "The Monthly Dividend Company," 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
1,077 retail properties 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
NOTE TO EDITORS: Realty Income, "The Monthly Dividend Company,"
press releases are available at no charge by calling our
toll-free investor hotline number: 1-888-811-2001, or through the
internet at http://www.realtyincome.com.
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