ESCONDIDO, Calif., June 17 /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 $0.1750 per share from $0.1725 per
share. This is the seventh consecutive quarter in which the Company has
increased the amount of its monthly dividend. The dividend is payable on
July 15, 1999 to stockholders of record as of July 1, 1999. The new dividend
amount represents an increase in the annualized rate to $2.10 per share from
$2.07 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, offered the
following comment on the 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
1,027 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 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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