O reported AFFO (Adjusted Funds From Operations) of 1.01/share during the quarter and 4/share for FY 2023 (up from 3.92/share in FY 2022). This places the company's annualized dividend of 3.078/share at a comfortable 76.9% payout ratio, with adequate room for continued growth. In December, O raised its monthly dividend to 0.2565/share, marking 29 years of continuous annual raises, and notably 105 consecutive quarterly increases. If I add the likely interest rate cut this year, for me it's a strong buy.