Medalist Diversified REIT Announces Series A Preferred Stock Cash Dividend

Rhea-AI Summary

Medalist Diversified REIT, Inc. (NASDAQ: MDRR) has declared a dividend of $0.5000 per share for its 8.0% Series A Cumulative Redeemable Preferred Stock for the 4th quarter of 2021. This dividend will be paid in cash on January 20, 2022, to shareholders on record as of January 13, 2022. Medalist specializes in commercial real estate in the Southeast U.S., focusing on value-add opportunities and employing a hands-on property management approach to maximize performance.

Positive

• Declared a cash dividend of $0.5000 per share on Series A Preferred Stock.
• Dividend payment reinforces shareholder confidence in the company's financial stability.

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• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the “Company” or “Medalist”), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., today announced that its Board of Directors has authorized and the Company has declared a dividend for the 4th quarter of 2021 on its 8.0% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”) in the amount of $0.5000 per share (the “Series A Dividend”).

The Series A Dividend will be payable in cash on January 20, 2022 to holders of record of Series A Preferred Stock as of January 13, 2022.

About Medalist Diversified REIT

Medalist Diversified REIT Inc. is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the Mid-Atlantic and Southeast regions. The Company’s strategy is to focus on value-add and opportunistic commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent and replicable process for sourcing and conducting due diligence of acquisitions. The Company seeks to maximize operating performance of current properties by utilizing a hands-on approach to property management while monitoring the middle market real estate markets in the southeast for acquisition opportunities and disposal of properties as considered appropriate. For more information on Medalist, please visit the Company website at https://www.medalistreit.com.

Forward Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may,” “will,” “should” and “could.” Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur, including, without limitation, with respect to the completion of the proposed public offering on the terms described or at all. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the prospectus dated June 21, 2021 and its accompanying prospectus supplement dated November 17, 2021, and in the Company’s subsequent annual and periodic reports and other documents filed with the SEC, copies of which are available on the SEC’s website, www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211222005234/en/

Dave Gentry

RedChip Companies Inc.

1-800-RED-CHIP (733-2447)

or 407-491-4498

dave@redchip.com

Source: Medalist Diversified REIT, Inc.

FAQ

What is the dividend amount for Medalist Diversified REIT (MDRR)?

The dividend amount is $0.5000 per share for the 4th quarter of 2021.

When will the dividend be paid for MDRR shareholders?

The dividend will be paid on January 20, 2022.

What is the record date for the MDRR dividend?

The record date for the dividend is January 13, 2022.

What type of stock is the series A dividend for MDRR?

The dividend is for the 8.0% Series A Cumulative Redeemable Preferred Stock.