Realty Income: Small Dividend Increases Add Up
Realty Income (O), a real estate investment trust (REIT), has a highly diversified portfolio (1,700 clients in 79 industries) of single-unit freestanding commercial properties under long-term net lease agreements from which it gets a steady cash flow to support monthly dividends.
As of December 2022 the company has declared 630 consecutive monthly dividends over 53 years and has increased its dividend 118 times since it went public in 1994. It is a Dividend Aristocrat.
As the monthly dividend chart shows, Realty Income regularly raises its monthly dividend by small amounts and over time the total dividend increases become significant. For example, its monthly dividend increased 69% from November 2012 to November 2022.