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New Dividend: 14.6125 cents monthly (per share)
Dividend Percent Increase: 0.2%
Current Yield: 4.35%
One of those high-yield names is
Realty Income(O), the "monthly dividend company." The firm's recent dividend hike may not be the biggest on a percentage-increase front, but it is the biggest absolute payout. The increase puts Realty Income's yield at a hefty 4.35%.
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It may seem strange to say that a real estate investment trust like Realty Income makes more sense to own than Best Buy right now. But in reality, commercial REITs like O are purpose-built income generation tools. They sign long-term triple-net leases with tenants that smooth out any unexpected tax, maintenance, or insurance costs from their earnings, and they are legally required to pay out the vast majority of their incomes directly to shareholders in the form of dividends.
Those factors insulate Realty Income from the ebb and flow of the real estate market, and give it a massive payout right now.