Who We Are - Realty Income - The Monthly Dividend Company

The Monthly Dividend Company's mission is to pay monthly dividends to our shareholders.

As a monthly dividend company, every decision and action is intended to fulfill our mission to pay monthly dividends to our shareholders.

Company Fast Facts

The following are several at-a-glance facts about our company.

General Information

Founded in 1969 to provide investors with monthly dividends generated by real estate
Publicly traded on New York Stock Exchange since 1994 (ticker symbol "O")
Owns a portfolio of over 2,600 commercial properties in 49 states
Headquarters in Escondido, California
80 full-time employees, approximately

Dividends and Market Performance

Common stock primarily owned by individual investors (about 90,000 shareowners) who are looking for investment income
Dividends paid for 43 years and $2.2 billion in dividends paid
Average compounded annual return of 17.8% (as of 3/31/12) provided to our shareholders since we listed on the New York Stock Exchange in 1994

Learn more about Who We Are by clicking on each section below.

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The Management Team

Experience and dependability are the hallmark of our company and our management team is no exception. Here are a few team facts:
- The average tenure for our team members is about 15 years
- The six senior members of our leadership team have more than 150 combined years of experience in analyzing, acquiring and managing net-leased real estate
- The Monthly Dividend Company's leadership has managed consistently successful operations that have allowed us to pay more than 500 consecutive monthly dividends

History: Founded to Generate Cash for Investors

Realty Income was founded by Bill and Joan Clark, husband and wife, in 1969. They founded the company to generate monthly income from real estate for investors, a novel concept at the time. From their first Taco Bell property acquisition in 1969 to today, we have continued to build the company according to three key operating objectives designed to support the payment of monthly dividends.

3 Key Operating Objectives

1. Build a reliable real estate portfolio to support the payment of dividends
  Action:
  - Developed a focused real estate investment strategy concentrated on owning properties leased to businesses that provide basic human needs, goods and services
  - Built our credit research and underwriting expertise to uncover tenants with generally favorable long-term business prospects and properties in good locations that are profitable
  - Established guidelines for lease revenue and geographic diversification for all real estate acquisitions
2. Secure access to capital to support real estate acquisitions that increase revenue and earnings
  Action:
  - Became a public company listed on the New York Stock Exchange in October 1994 under the ticker symbol "O"
  - Worked with credit rating agencies to secure investment grade credit ratings and obtain more favorable credit terms for borrowing and a broader range of financing options
  - Achieved investment grade credit ratings in 1997 and have maintained and improved these credit ratings ever since
  - Maintained and fostered solid working relationships with major investment and commercial banks to provide continued access to capital to fund our growth
  - Kept our balance sheet conservative with no mortgages on any of our properties
3. Build the operations of the company to promote sustainable long-term earnings growth that supports dividend increases
  Action:
  - Adopted a Real Estate Investment Trust tax status to further promote our monthly dividend focus
  - Built an independent Board of Directors with a wide variety of business expertise to provide strong corporate governance and oversight
  - Developed a long-term strategic plan to guide our endeavors and promote our shareholders' desire to receive monthly dividends that increase over time
  - Cultivated leadership within the company and acquired talent that has a clear focus on being The Monthly Dividend Company^® to the exclusion of all other points of view

Our Track Record

Since the company was founded we have:
- Paid a total of $2.2 billion in dividends
- Made 500 consecutive monthly dividend payments
- Increased the annualized amount of the dividend from $0.90 to $1.74975 as of 3/31/12
Since we became a public company in 1994, through 3/31/12 (except as noted), we've increased:
- Tenant industries in our portfolio from 5 to 38 industries
- States where we own properties from 41 to 49 states
- Individual tenants from 23 to 137
- Real estate assets at cost from $451 million to $5.0 billion
- Revenue from $49 million to $421.1 million^* (for the year ended 12/31/11)
- Funds from operations from $39 million to $249.4 million (for the year ended 12/31/11)
- Property portfolio from 630 to over 2,600 properties
We've also:
- Maintained property occupancy levels above 96% at the end of each year
- Managed our tenant concentration so that no single tenant accounts for more than 10% of our total lease revenue
* Total revenue includes amounts reclassified to income from discontinued operations, but excludes revenue from Crest Net Lease, a subsidiary of Realty Income.

Key Take-Aways
We are The Monthly Dividend Company^® 43+ year operating history Dividends supported by lease revenue from real estate assets Track record of regular dividend increases Mergent Dividend Achiever status based on consistency of dividends. History of consistent and increasing operations Unchanging business plan

See Our Team at Work
	Get a behind-the-scenes look at our team, our facility and our culture » Watch video

2012 Business Plan
Our business plan has remained the same for the past 43 years and is specifically designed to support our mission to pay monthly dividends that increase over time. Pay 12 monthly dividends Raise the dividend Maintain a healthy balance sheet Maintain high portfolio occupancy Acquire additional properties Tell more people about The Monthly Dividend Company^® Remain conservative

How to become a shareholder or reinvest your dividends
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