Nicholas S. Schorsch, Chairman of American Realty Capital Trust, said, “We are very pleased to announce this transaction between ARCT and Realty Income. Realty Income has an extraordinary record of continuous dividend payments and dividend growth together with very strong overall performance. This transaction will institutionalize the notion of durable, defensive dividends for our shareholders by allowing them to become owners on a very favorable basis of the largest, and, I believe, now the best, publicly-traded net lease real estate company, period. Size, low-cost capital, and management skill are the competitive advantages in the net lease sector.”William M. Kahane, Chief Executive Officer of American Realty Capital Trust, observed, “Realty Income enjoys an exceptional 18-year public track record of paying and increasing its monthly dividend. Realty Income’s management team exemplifies the dedication to durable, defensible shareholder returns that American Realty Capital Trust shareholders expect. In an industry where size matters, Realty Income has now managed to construct an enterprise that is bigger by an order of magnitude, and financially stronger than any of its competitive set. The company is positioned for continuing growth in assets, earnings and all in return. ARCT’s shareholders are in capable hands.”
Dividend Increase Track Record (Graphic: Business Wire)
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