Track Record

Realty Income has been paying dependable monthly dividends throughout its 53-year operating history. During this time, the company has reached many significant milestones:

1969: Realty Income founded by William and Joan Clark
1994: Began trading on the New York Stock Exchange under the ticker symbol “O”
1996: Received investment-grade credit ratings from Moody’s Investors Service, Standard and Poor’s Rating Agency and Fitch Ratings
2007: Added to the Standard and Poor’s MidCap Index
2011: Completed $1.0 billion in annual property acquisitions for first time
2013: Cited on Forbes.com as one of “America’s 100 Most Trustworthy Companies” based on corporate governance scores
2013: Closed acquisition of American Realty Capital Trust for $3.2 billion
2014: Surpassed $3.0 billion in common stock dividends paid to shareholders. Celebrated 20th anniversary of our listing on the New York Stock Exchange
2015: Added to the S&P High Yield Dividend Aristocrats® index. Added to the S&P 500 index
2016: Surpassed $1.0 billion in annual rental revenue
2017: Credit rating upgraded to "A3" by Moody's Investors Service
2018: Credit rating upgraded to "A-" by Standard and Poor's Rating Agency
2019: International expansion into the United Kingdom. Celebrated 25th anniversary of our listing on the New York Stock Exchange and 50th anniversary as a company
2020: Added to the S&P 500 Dividend Aristocrats® index. Debut Public Offering Of £400 million Sterling-Denominated Senior Unsecured Notes
2021: Debut Green Bond Offering Of £750 million Sterling-Denominated Senior Unsecured Notes. Completed the merger with VEREIT

Below are examples of the company’s consistent dividend growth and stock performance since our listing on the NYSE in 1994:

Realty Income Performance vs. Major Stock Indices

Empty	Realty Income		Equity REIT Index ⁽¹⁾		Dow Jones Industrial Average		S&P 500		NASDAQ Composite
	DIVIDEND YIELD	TOTAL RETURN ⁽²⁾	DIVIDEND YIELD	TOTAL RETURN ⁽³⁾	DIVIDEND YIELD	TOTAL RETURN ⁽³⁾	DIVIDEND YIELD	TOTAL RETURN ⁽³⁾	DIVIDEND YIELD	TOTAL RETURN ⁽⁴⁾
10/18 - 12/31/94	10.5%	10.8%	7.7%	0.0%	2.9%	(1.6%)	2.9%	(1.2%)	0.5%	(1.7%)
1995	8.3%	42.0%	7.4%	15.3%	2.4%	36.9%	2.3%	37.6%	0.6%	39.9%
1996	7.9%	15.4%	6.1%	35.3%	2.2%	28.9%	2.0%	23.0%	0.2%	22.7%
1997	7.5%	14.5%	5.5%	20.3%	1.8%	24.9%	1.6%	33.4%	0.5%	21.6%
1998	8.2%	5.5%	7.5%	(17.5%)	1.7%	18.1%	1.3%	28.6%	0.3%	39.6%
1999	10.5%	(8.7%)	8.7%	(4.6%)	1.3%	27.2%	1.1%	21.0%	0.2%	85.6%
2000	8.9%	31.2%	7.5%	26.4%	1.5%	(4.7%)	1.2%	(9.1%)	0.3%	(39.3%)
2001	7.8%	27.2%	7.1%	13.9%	1.9%	(5.5%)	1.4%	(11.9%)	0.3%	(21.1%)
2002	6.7%	26.9%	7.1%	3.8%	2.6%	(15.0%)	1.9%	(22.1%)	0.5%	(31.5%)
2003	6.0%	21.0%	5.5%	37.1%	2.3%	28.3%	1.8%	28.7%	0.6%	50.0%
2004	5.2%	32.7%	4.7%	31.6%	2.2%	5.6%	1.8%	10.9%	0.6%	8.6%
2005	6.5%	(9.2%)	4.6%	12.2%	2.6%	1.7%	1.9%	4.9%	0.9%	1.4%
2006	5.5%	34.8%	3.7%	35.1%	2.5%	19.0%	1.9%	15.8%	0.8%	9.5%
2007	6.1%	3.2%	4.9%	(15.7%)	2.7%	8.8%	2.1%	5.5%	0.8%	9.8%
2008	7.3%	(8.2%)	7.6%	(37.7%)	3.6%	(31.8%)	3.2%	(37.0%)	1.3%	(40.5%)
2009	6.6%	19.3%	3.7%	28.0%	2.6%	22.6%	2.0%	26.5%	1.0%	43.9%
2010	5.1%	38.6%	3.5%	27.9%	2.6%	14.0%	1.9%	15.1%	1.2%	16.9%
2011	5.0%	7.3%	3.8%	8.3%	2.8%	8.3%	2.3%	2.1%	1.3%	(1.8%)
2012	4.5%	20.1%	3.5%	19.7%	3.0%	10.2%	2.5%	16.0%	2.6%	15.9%
2013	5.8%	(1.8%)	3.9%	2.9%	2.3%	29.6%	2.0%	32.4%	1.4%	38.3%
2014	4.6%	33.7%	3.6%	28.0%	2.3%	10.0%	2.0%	13.7%	1.3%	13.4%
2015	4.4%	13.0%	3.9%	2.8%	2.6%	0.2%	2.2%	1.4%	1.4%	5.7%
2016	4.2%	16.0%	4.0%	8.6%	2.5%	16.5%	2.1%	12.0%	1.4%	7.5%
2017	4.5%	3.6%	3.9%	8.7%	2.2%	28.1%	1.9%	21.8%	1.1%	28.2%
2018	4.2%	15.2%	4.4%	(4.0%)	2.5%	(3.5%)	2.2%	(4.4%)	1.4%	(3.9%)
2019	3.7%	21.1%	3.7%	28.7%	2.4%	25.3%	1.9%	31.5%	1.1%	35.2%
2020	4.5%	(11.8%)	3.6%	(5.1%)	1.9%	9.7%	1.5%	18.4%	0.9%	43.6%
2021	4.1%	23.0%	2.6%	41.3%	1.8%	20.9%	1.3%	28.7%	0.7%	21.4%
YTD 2022	4.3%	(2.2%)	2.9%	(5.3%)	1.9%	(4.1%)	1.4%	(4.6%)	0.7%	(9.1%)
Compound Average Annual Total Return ⁽⁵⁾		15.3%		10.8%		10.8%		10.7%		11.2%

Footnotes

(1) FTSE NAREIT US Equity REIT Index, as per NAREIT website.
(2) Calculated as the difference between the closing stock price as of period end less the closing stock price as of previous period, plus dividends paid in period, divided by closing stock price as of end of previous period. Does not include reinvestment of dividends for the annual percentages.
(3) Includes reinvestment of dividends. Source: NAREIT website and Factset.
(4) Price-only index, does not include dividends as NASDAQ did not report total return metrics for the entirety of the measurement period. Source: Factset.
(5) All of these Compound Average Annual Total Return rates are calculated in the same manner for each period from Realty Income's NYSE listing on October 18, 1994 through March 31, 2022, and (except for NASDAQ) assume reinvestment of dividends. Past performance does not guarantee future performance. Realty Income presents this data for informational purposes only and makes no representation about its future performance or how it will compare in performance to other indices in the future.

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Download Realty Income Performance vs. Major Stock Indices

Comparison of $100 Invested in Realty Income in 1994 vs. Major Stock Indices

Note: Assumes dividend reinvestment on the last day of each period.

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Dividend Increases

115 Dividend Increases Since 1994 NYSE Listing
98 Consecutive Quarterly Increases
Compound Average Annual Growth Rate of Approximately 4.4%
Dividends paid for 53 years = over $9.3 billion

Annualized Dividends⁽¹⁾

Note⁽¹⁾: Annualized dividend amount reflects the December declared dividend per share multiplied by twelve with the exception of the 2022 column, which reflects the current declared dividend per share multiplied by twelve.

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LEGAL DISCLAIMER:
Past performance is not a reliable indicator of future performance. The price of Realty Income shares may go down as well as up and you may not get back all or any of your original investment.

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Track Record

Realty Income Performance vs. Major Stock Indices

Footnotes

Comparison of $100 Invested in Realty Income in 1994 vs. Major Stock Indices

Dividend Increases