Realty Income Expected Dividend Increase for 2024

A look at Realty Income's dividend

Realty Income paid a total of $2.1 billion in dividends in 2023, marking a 16.5% increase from the previous year. Since its public listing in 1994, the REIT has paid out nearly $13 billion to investors.

On a per-share basis, the dividend rose by 2.8%, reaching an annualized rate of $3.078. However, due to issuing new shares to fund real estate investments, the outstanding shares increased by 13.2%.

• The $9.3 billion all-stock acquisition of Spirit Realty is expected to drive further growth in outstanding shares.
• Realty Income made cash distributions of $636.5 million to investors in the first quarter of 2024.

With a goal of increasing the per-share rate and making strategic investments, the REIT is likely to pay out more than $2.5 billion in dividends this year.

A dividend-paying machine

If you seek a steadily rising monthly income stream, investing in Realty Income might be a wise choice. The stock is poised to offer a higher dividend this year, making it an attractive option for income-seeking investors.