Dividend Increase Announcement - Realty Income Corporation (O) increased its common stock monthly cash dividend to 26.40 cents per share from 26.35 cents, marking its 128th dividend hike since its NYSE listing in 1994 [1] - The new dividend will be paid on Jan 15, 2025, to shareholders of record as of Jan 2, 2025, resulting in an annualized dividend of 3.168pershareandadividendyieldof5.6855.78 [2] - This marks the company's 654th consecutive monthly dividend payout in its 55-year history [3] Dividend Growth and Consistency - Realty Income has made 109 consecutive quarterly dividend hikes and achieved a compound average annual dividend growth rate of 4.2% since its NYSE listing [4] - The company has increased its dividend 23 times in the last five years, with a five-year annualized dividend growth rate of 3.04% [5] Business Model and Financial Strength - Realty Income's business model supports sustainable dividend payments through reliable cash flows from its high-quality portfolio, with a focus on service-oriented, non-discretionary, and low-price-point retail tenants [6] - The company invested 740.1millionin169propertiesduringQ32024,achievinganinitialweightedaveragecashyieldof7.43.5 billion [7] - Realty Income maintains a healthy balance sheet with 5.2billioninliquidity,anetdebttoannualizedproformaadjustedEBITDAreof5.4x,andafixedchargecoverageof4.6x[8]−Thecompany′sfinancialflexibilityandlowerdebt−to−equityratiocomparedtotheindustrysupportthesustainabilityofitsdividendpayments[9]IndustryContext−Mid−AmericaApartmentCommunities(MAA)increaseditsquarterlydividendby3.11.515 per share, with an annualized dividend of 6.06pershare[11]−AlexandriaRealEstateEquities,Inc(ARE)announceda1.51.32 per share [12] - Whitestone REIT (WSR) declared a 9% increase in its monthly cash dividend to 4.5 cents per share for Q1 2025 [13]