ESCONDIDO, Calif., Sept. 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 $0.1775 per share from $0.1750 per
share. This is the eighth consecutive quarter in which the Company has
increased the amount of its monthly dividend. The dividend is payable on
October 15, 1999 to stockholders of record as of October 1, 1999. The new
dividend amount represents an increase in the annualized rate to $2.13 per
share from $2.10 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 for the
Company's Class C preferred stock in the amount of $0.1979 per share which
represents an annualized rate of $2.375 per share. The preferred dividend
will be paid on November 1, 1999 to stockholders of record as of October 15,
1999.
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
1,074 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, 760-317-2977
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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