Press Release Details

Dec 14, 2005

Realty Income Increases Common Stock Monthly Dividend 33rd Consecutive Quarterly Increase

ESCONDIDO, CALIFORNIA, December 14, 2005. Realty Income Corporation (Realty Income), The Monthly Dividend Company®, (NYSE:O) today announced that its Board of Directors has declared an increase in the Company’s common stock monthly dividend to $0.11625 per share from $0.115625 per share. The new monthly dividend amount represents an annualized rate of $1.395 per share. The dividend is payable on January 17, 2006 to shareholders of record as of January 3, 2006. This is the 33rd consecutive quarter in which the Company has increased the amount of its monthly dividend and the 37th increase since Realty Income went public in 1994. The Company continues its long-term policy of declaring and paying common stock dividends on a monthly, rather than on a quarterly, basis.

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