ESCONDIDO, Calif., March 18 /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 to $0.1725 per share from $0.1700 per share. This is the
sixth consecutive quarter in which the Company has increased the amount of its
monthly dividend. The dividend is payable on April 15, 1999 to stockholders
of record as of April 1, 1999. The new dividend amount represents an increase
in the annualized rate from $2.04 per share to $2.07 per share. The Company
continues its policy of declaring dividends on a monthly, not quarterly basis.
Tom A. Lewis, Chief Executive Officer of Realty Income, offered the
following comment on the monthly dividend increase: "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."
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
990 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, Investor
Relations, 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 through the internet at
http://www.realtyincome.com
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