Prospectus excerpt: We will pay monthly cumulative dividends, in arrears, on the Class E preferred stock from the date of original issuance. The Class E preferred stock will not be redeemable before December 7, 2011, except under circumstances intended to preserve our status as a real estate investment trust for federal and/or state income tax purposes. Beginning December 7, 2011, we may redeem any or all of the shares of the Class E preferred stock at $25.00 per share plus any accrued and unpaid dividends. The shares of Class E preferred stock have no stated maturity, are not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless we redeem or otherwise repurchase them.
Realty Income Corporation, The Monthly Dividend Company´, is a Maryland corporation organized to operate as an equity real estate investment trust, or REIT. We are a fully integrated, self-administered real estate company with in-house acquisition, leasing, legal, retail research, real estate research, portfolio management and capital markets expertise. As of September 30, 2006, we owned a diversified portfolio of 1,766 retail properties located in 48 states with over 15.0 million square feet of leasable space leased to 101 different retail chains doing business in 29 separate retail industries.