Current Yield
5.24%
TTM Dividend/Share
$3.24
Payment Frequency
Monthly
Payout Ratio
265.5%
Consecutive Growth Years
2
Key takeaways
- Realty Income (O) has raised its dividend for 2 consecutive years.
- Realty Income (O) currently yields 5.24%, paying $3.24 per share over the trailing twelve months, distributed monthly.
- Payout ratio is 265.5% — the share of earnings distributed as dividends.
- 4 of 8 dividend safety checks passed.
- 5-year dividend CAGR of 5.12% (growth is accelerating).
Dividend yield valuation for Realty Income (O)
Current dividend yield vs its own 1Y / 3Y / 5Y historical averages — a rough valuation signal.
Valuation zone | Near average — fair value |
Current yield (now) | 5.24% |
1-year average yield | 5.73%now 0.49 pp below |
3-year average yield | 5.61%now 0.37 pp below |
5-year average yield | 5.09%now 0.15 pp above |
O: a yield above its history can signal value (or risk); below can signal a rich price. One valuation signal among many — review fundamentals before investing.
Dividend health for Realty Income (O)
Cash-flow, leverage and returns metrics that signal whether the dividend is well-covered and sustainable.
Chowder score | 10.4% |
FCF payout ratio | 18.7% |
Net debt / EBITDA | 7.1x |
Interest coverage | 1.50x |
ROIC (TTM) | 3.2% |
Dividend safety score for Realty Income (O)
Checks covering payout coverage, free-cash-flow support, leverage and dividend-growth durability.
4 of 8 checks passed
Payout ratio below 75%
Payout ratio is 265.5%, above the 75% threshold.
Free cash flow covers dividend
TTM FCF after dividends is $1.1B — FCF fully covers the payout.
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have grown over the past 5 years.
10+ years of consecutive growth
Only 2 consecutive year(s) of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 18.7%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 7.1x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (5.1%) exceeds EPS growth (0.0%) — payout ratio expanding.
This analysis is for informational purposes only and is not financial advice. Safety scores and comparisons reflect historical data and do not predict future performance.
Per-payment dividend history
380 payments from 1994 to 2026 · Adj. Dividend is split-adjusted
| Jun 30, 2026 | Jul 15, 2026 | $0.2710 | $0.2710 |
| May 29, 2026 | Jun 15, 2026 | $0.2705 | $0.2705 |
| Apr 30, 2026 | May 15, 2026 | $0.2705 | $0.2705 |
| Mar 31, 2026 | Apr 15, 2026 | $0.2705 | $0.2705 |
| Feb 27, 2026 | Mar 13, 2026 | $0.2700 | $0.2700 |
| Jan 30, 2026 | Feb 13, 2026 | $0.2700 | $0.2700 |
| Dec 31, 2025 | Jan 15, 2026 | $0.2700 | $0.2700 |
| Nov 28, 2025 | Dec 15, 2025 | $0.2695 | $0.2695 |
| Oct 31, 2025 | Nov 14, 2025 | $0.2695 | $0.2695 |
| Oct 1, 2025 | Oct 15, 2025 | $0.2695 | $0.2695 |
| Sep 2, 2025 | Sep 15, 2025 | $0.2690 | $0.2690 |
| Aug 1, 2025 | Aug 15, 2025 | $0.2690 | $0.2690 |
- Jun 30, 2026$0.2710
- May 29, 2026$0.2705
- Apr 30, 2026$0.2705
- Mar 31, 2026$0.2705
- Feb 27, 2026$0.2700
- Jan 30, 2026$0.2700
- Dec 31, 2025$0.2700
- Nov 28, 2025$0.2695
- Oct 31, 2025$0.2695
- Oct 1, 2025$0.2695
- Sep 2, 2025$0.2690
- Aug 1, 2025$0.2690
Historical dividend yield for Realty Income (O)
Mean trailing dividend yield using one ratio snapshot per calendar year.Mean yield1Y: 5.73%5Y: 5.09%10Y: 4.73%
Dividend per share for Realty Income (O)
CAGR (per year)1Y: 21.54%5Y: 5.12%10Y: 4.66%↑ Accelerating
| Year | Total ($/share) | Payments |
|---|---|---|
| 1994 | $0.22 | 3 |
| 1995 | $1.04 | 12 |
| 1996 | $0.83 | 11 |
| 1997 | $0.92 | 12 |
| 1998 | $0.96 | 12 |
| 1999 | $1.01 | 12 |
| 2000 | $1.06 | 12 |
| 2001 | $1.09 | 12 |
| 2002 | $1.12 | 12 |
| 2003 | $1.14 | 12 |
| 2004 | $1.21 | 12 |
| 2005 | $1.31 | 12 |
| 2006 | $1.40 | 12 |
| 2007 | $1.52 | 12 |
| 2008 | $1.62 | 12 |
| 2009 | $1.66 | 12 |
| 2010 | $1.67 | 12 |
| 2011 | $1.69 | 12 |
| 2012 | $1.72 | 12 |
| 2013 | $2.11 | 12 |
| 2014 | $2.12 | 12 |
| 2015 | $2.21 | 12 |
| 2016 | $2.33 | 12 |
| 2017 | $2.46 | 12 |
| 2018 | $2.56 | 12 |
| 2019 | $2.64 | 12 |
| 2020 | $2.72 | 12 |
| 2021 | $2.77 | 12 |
| 2022 | $2.97 | 12 |
| 2023 | $3.06 | 12 |
| 2024 | $2.87 | 11 |
| 2025 | $3.49 | 13 |
| 2026 | $1.62 | 6 |
Dividend growth for Realty Income (O)
Year-over-year change in total annual dividend per share (split-adjusted, by ex-dividend year). Green is an increase, red a cut.
Dividend Increase Track Record
Year-over-year change in total annual DPS (dividends per share, split-adjusted), based on ex-dividend date.
| 2026 | $3.4870 | — | — |
| 2025 | $2.8690 | $3.4870 | +21.5% |
| 2024 | $3.0590 | $2.8690 | -6.2% |
| 2023 | $2.9690 | $3.0590 | +3.0% |
| 2022 | $2.7745 | $2.9690 | +7.0% |
| 2021 | $2.7170 | $2.7745 | +2.1% |
| 2020 | $2.6356 | $2.7170 | +3.1% |
| 2019 | $2.5601 | $2.6356 | +3.0% |
| 2018 | $2.4613 | $2.5601 | +4.0% |
| 2017 | $2.3314 | $2.4613 | +5.6% |
| 2016 | $2.2113 | $2.3314 | +5.4% |
| 2015 | $2.1228 | $2.2113 | +4.2% |
| 2014 | $2.1115 | $2.1228 | +0.5% |
| 2013 | $1.7229 | $2.1115 | +22.6% |
| 2012 | $1.6896 | $1.7229 | +2.0% |
| 2011 | $1.6696 | $1.6896 | +1.2% |
| 2010 | $1.6551 | $1.6696 | +0.9% |
| 2009 | $1.6153 | $1.6551 | +2.5% |
| 2008 | $1.5213 | $1.6153 | +6.2% |
| 2007 | $1.4031 | $1.5213 | +8.4% |
| 2006 | $1.3120 | $1.4031 | +6.9% |
| 2005 | $1.2098 | $1.3120 | +8.4% |
| 2004 | $1.1449 | $1.2098 | +5.7% |
| 2003 | $1.1173 | $1.1449 | +2.5% |
| 2002 | $1.0896 | $1.1173 | +2.5% |
| 2001 | $1.0601 | $1.0896 | +2.8% |
| 2000 | $1.0150 | $1.0601 | +4.4% |
| 1999 | $0.9568 | $1.0150 | +6.1% |
| 1998 | $0.9205 | $0.9568 | +3.9% |
| 1997 | $0.8251 | $0.9205 | +11.6% |
| 1996 | $1.0359 | $0.8251 | -20.3% |
| 1995 | — | $1.0359 | — |
- 2026—
- 2025$3.4870
- 2024$2.8690
- 2023$3.0590
- 2022$2.9690
- 2021$2.7745
- 2020$2.7170
- 2019$2.6356
- 2018$2.5601
- 2017$2.4613
- 2016$2.3314
- 2015$2.2113
- 2014$2.1228
- 2013$2.1115
- 2012$1.7229
- 2011$1.6896
- 2010$1.6696
- 2009$1.6551
- 2008$1.6153
- 2007$1.5213
- 2006$1.4031
- 2005$1.3120
- 2004$1.2098
- 2003$1.1449
- 2002$1.1173
- 2001$1.0896
- 2000$1.0601
- 1999$1.0150
- 1998$0.9568
- 1997$0.9205
- 1996$0.8251
- 1995$1.0359
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Frequently asked questions
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