Realty Income Corp. headquarters
Realty Income Corp. headquarters in Carmel Valley. Courtesy on the company

San Diego-based Realty Income Corp. is raising its monthly dividend for the 100th time times since its stock was first listed on the New York Stock Exchange.

The company announced Tuesday that its board increased the dividend from $0.2210 per share to $0.2255 per share payable Feb. 15 to shareholders of record as of Feb. 1.

The new monthly dividend represents an annualized amount of $2.706 per share

“The continued strength of our operating performance has allowed us to increase the dividend for the 100th time since our company’s public listing in 1994,” said Sumit Roy, president and chief executive officer. “We continue to maintain a conservative payout ratio and remain committed to our company’s mission of paying dependable monthly dividends that increase over time.”

“With the payment of the February dividend, shareholders will realize a 3 percent increase in the amount of the dividend as compared to the same month in 2018,” Roy added.

The real estate investment trust owns 5,600 properties that are under long-term lease agreements with regional and national commercial tenants.

Chris Jennewein

Chris Jennewein is Editor & Publisher of Times of San Diego.