Realty Income | Monthly dividend up 5.1% YOY in 2021

Realty Income has raised its monhtly dividend by 5.1 percent YOY

Dividend Aristocrat Realty Income will raise its monthly dividend for the 4th time in 2021 with a new 4.2 percent increase to $0.246 per share. The commercial REIT has raised its dividend 27 consecutive years and has now raised its dividend by 5.1 percent compared to last year.

The dividend is payable on December 15, 2021 to shareholders of record as of December 1, 2021. This is the 113th dividend increase since Realty Income's listing on the NYSE in 1994. The ex-dividend date for December's dividend is November 30, 2021. The new monthly dividend represents an annualized dividend amount of $2.952 per share as compared to the current annualized dividend amount of $2.832 per share.

Realty Income has a fenomenal dividend history with multiple increases every year

A new annual dividend rate of $2.832 per share for Realty Income yields 4.1% at a stock price of $70.94. The company's stock price is up 17.8% year-to-date with O touching an all time high last month. Dividend growth has been mixed but Realty Income is one of just a few REITs not cutting of suspending its dividend last year. Simon Property did announce a dividend cut but has been fast to raise its dividend again in 2021 with multiple dividend increases.

ALSO READ: Realty Income raises dividend for third time in 2021

"Following the closing of our recent merger, our continued operational success and favorable outlook has allowed us to increase the dividend for the 113th time since our company's public listing in 1994," said Sumit Roy, President and Chief Executive Officer of Realty Income. "We remain committed to our company's mission to invest in people and places to deliver dependable monthly dividends that increase over time. With the payment of the December dividend, shareholders will realize a 5.1% increase in the amount of the dividend as compared to the same month in 2020."

Realty Income is a Dividend Aristocrat, having raised its dividend for more than 25 consecutive years. If we include the 3 small increases announced by O earlier in 2021 the total dividend hike YTD is 5.1 percent.  

Realty Income, The Monthly Dividend Company®, is an S&P 500 company and member of the S&P 500 Dividend Aristocrats® index. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from its real estate properties owned under long-term lease agreements with commercial clients. Realty Income's properties are leased to clients in the United States, Puerto Rico, the United Kingdom and Spain. The majority of its properties are leased to retail clients that have a service, non-discretionary, and/or low price point component to their business. Realty Income's became publicly listed in 1994.