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SAN DIEGO - Realty Income Corporation (NYSE:O), a $52 billion market cap REIT with an impressive 92.7% gross profit margin, announced Tuesday it has declared its 661st consecutive monthly dividend of $0.269 per share, representing a current yield of 5.61%, according to a company press release.
The dividend, which represents an annualized amount of $3.228 per share, will be payable on August 15 to stockholders of record as of August 1.
Realty Income, which refers to itself as "The Monthly Dividend Company," has maintained an unbroken record of monthly dividend payments since its founding in 1969. The company is a member of the S&P 500 Dividend Aristocrats index, having increased its dividend for over 30 consecutive years.
The real estate investment trust specializes in commercial properties and reported a portfolio of over 15,600 properties across all 50 U.S. states, the United Kingdom, and six other European countries as of March 31, 2025.
Realty Income is an S&P 500 company that focuses on investing in diversified commercial real estate, primarily through long-term lease agreements with commercial tenants.
In other recent news, Realty Income Corporation announced the pricing of a €1.3 billion Euro-denominated senior unsecured note offering. The offering consists of €650 million in notes due 2031 with a 3.375% interest rate and another €650 million due 2035 at 3.875%. The proceeds are intended to repay a $500 million term loan maturing soon and a portion of the $2.2 billion outstanding under its credit facility and commercial paper program. Stifel has reiterated its buy rating on Realty Income, citing the attractive nature of the notes. Additionally, Realty Income disclosed a liquidity position of $4.6 billion, comprising cash, unsettled ATM forward equity sales, and available credit. The company has also raised its monthly cash dividend slightly to $0.2690 per share, marking its 131st increase since listing on the NYSE. Furthermore, Realty Income amended its 2021 Incentive Award Plan for non-employee directors, aligning their interests with stockholders. Lastly, the company confirmed the election of 10 directors and the ratification of KPMG LLP as its independent auditor for the fiscal year ending December 31, 2025.
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