ESCONDIDO, Calif., Sept. 11 /PRNewswire/ -- Realty Income Corporation
(Realty Income) (NYSE: O) today announced that the Board of Directors has
declared an increase in the amount of the monthly dividend to $0.1675 per
share from $0.1650 per share. This is the fourth consecutive quarter in which
the Company has increased the amount of the dividend. The dividend is payable
on October 15, 1998 to stockholders of record as of October 1, 1998. The new
dividend amount represents an increase in the annualized rate from $1.98 per
share to $2.01 per share. The Company continues its policy of declaring
dividends on a monthly, not quarterly basis.
Realty Income owns and actively manages a portfolio of 904 retail
properties in 44 states. By purchasing the freestanding retail store
locations of regional and national chain store operators and then leasing the
locations back to them, Realty Income provides retailers with the opportunity
to free up financial resources for expansion. The Company's acquisitions and
investments focus primarily on middle and upper market retailers providing
goods and services which satisfy basic consumer needs.
SOURCE Realty Income Corporation
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Related links:
http://www.realtyincome.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 746650
CONTACT:
Tere Miller, Vice President, Investor
Relations of Realty Income Corporation, 760-741-2111, ext. 177
EDITORS NOTE: 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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