O

Structure Overview

Realty Income Corporation (O) is a U.S. net-lease REIT that self-describes as 'The Monthly Dividend Company,' having paid monthly dividends for over 50 years with more than 125 consecutive dividend increases. For Canadian investors, Realty Income distributions are U.S.-source REIT income, which is treated as foreign income (not eligible dividends) and subject to 15% U.S. withholding tax.

Canadian Planning Notes

• 1Realty Income's monthly payment cadence is unusual for a U.S. REIT and useful for filling monthly income gaps; however, Canadian investors face 15% U.S. withholding unless held in an RRSP.
• 2REIT distributions from U.S. REITs are foreign income, not eligible dividends; the tax credit does not apply regardless of account type—plan accordingly.
• 3USD denomination adds CAD/USD exchange rate risk to monthly income; model CAD-equivalent distributions at different exchange rates.

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