Hike Isn't a Four-Letter Word at Realty Income
No one is surprised that Realty Income (NYSE: O) is boosting its dividend this week, just three months after its last hike. Increasing its payouts on a quarterly basis is just in the DNA of the real estate investment trust (REIT). This time around the move may stand out for the roundness of the milestone. We have now seen Realty Income jack up its yield 110 times since going public in 1994.
Realty Income does stand out as one of the few REITs that happen to declare monthly distributions instead of once every quarter. The hike, as you might imagine, is basically slivers of a penny. Realty Income's monthly rate will go from $0.2345 to $0.235 per share. The yield is barely nudged higher to 4.4%. However, the more you learn about Realty Income the more impressive it becomes that it's been able to keep this string of higher payouts going.
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Source Fool.com