REIT Declares Monthly Dividends

SAN DIEGO-Realty Income Corp., the real estate investment trust based in the North County suburb of Escondido, has declared a common stock dividend ofjust over 18 cents per share.The board of directors of the self-administered REIT also declared amonth dividend of 19.8 cents per share on class C preferred stock. Bothdividends are payable to shareholders of record as of Sept. 15, 2000.Realty Income pays monthly dividends generated by cash flows from its1,073 retail properties owned under long-term lease agreements withregional and national retail chains. The company is an activebuyer of net-leased retail properties nationwide.The REIT reported second-quarter and six-monthresults earlier this month. Funds from operations—the REIT equivalent ofcompany revenues—increased 2.5% in the six months ended June 30, 2000 to$32.8 million. The trust also says it expects to sell up to $100 million in assets over the next 12 months to raise money for new acquisitions.