Just last week we received a check from Realty Income (O) in the amount of $44.69 (221.794 shares X .2015). If you’re a shareholder of Realty Income, you’ll know that they pay dividends each month and actually refer to themselves as “The Monthly Dividend Company”.
These guys have paid monthly dividends for 554 consecutive months now (just over 46 years) and they are showing no signs of letting up. What’s even nicer is that they can choose to increase dividend payments at any time, not just once a year like most DGI stocks do. In July we penned an article about a small raise from O and to our utmost surprise, we saw another raise this month as well! Now to be fair, the raise wasn’t that much at just 1%. Nonetheless, we’re always happy for a raise of any size. Here’s what O’s track record has been in the dividend raise department:
We were quite shocked to see that we’ve actually been given 4 raises so far this year. Our January dividend payment was in the amount of 19.1 cents per share and now we’re getting 20.15 cents per share which means that this year’s raise so far is right around +5.5%. This is right in line with the 10-year track record of 5.2% dividend growth and the year isn’t over yet!
O is a company that we actually ended up holding a fair amount more than our target position size of $13,333 mainly because the stock price has performed so well recently. Just in the past year, O has increased in value by 38% and that’s even after they’ve had a bit of a correction. All we care about though is income so we don’t pay attention to that background noise. We’ll continue to buy more shares through our DRIP and hopefully see many more raises in the years to come.