Medalist Diversified REIT, Inc. Announces Cash Dividend of $0.01 Per Share on Its Common Stock and $0.50 Per Share on Its Series A Preferred Stock

Rhea-AI Summary

Medalist Diversified REIT, Inc. (NASDAQ: MDRR) announced a quarterly cash dividend of $0.01 per share on its common stock, payable on April 28, 2023, to shareholders of record as of April 25, 2023. Additionally, a $0.50 per share dividend was declared on the Company’s 8.0% Series A Cumulative Redeemable Preferred Stock, also payable on April 28, 2023. Medalist, based in Virginia, focuses on acquiring, owning, and managing commercial real estate in the Southeast U.S. and aims to provide an attractive balance of risk and returns through its value-add strategy.

Positive

• Declared quarterly cash dividend of $0.01 per common share.
• Announced $0.50 dividend for 8.0% Series A Cumulative Redeemable Preferred Stock.
• Focus on value-add and opportunistic commercial real estate indicates growth potential.

Negative

• 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., announced today that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company’s common stock (the "Common Stock Dividend"). The Common Stock Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.

The Board of Directors also declared a dividend of $0.50 per share on the Company’s 8.0% Series A Cumulative Redeemable Preferred Stock (the "Series A Dividend"). The Series A Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.

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 www.medalistreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230412005576/en/

Brent Winn

Medalist Diversified REIT, Inc.

804-338-7708

brent.winn@medalistprop.com

Source: Medalist Diversified REIT, Inc.

FAQ

What is the dividend amount for MDRR's common stock?

The dividend amount for MDRR's common stock is $0.01 per share.

When will the MDRR dividend be paid?

The MDRR dividend will be paid on April 28, 2023.

What is the record date for MDRR's dividend?

The record date for MDRR's dividend is April 25, 2023.

What is the amount of the Series A Dividend for MDRR?

The Series A Dividend for MDRR is $0.50 per share.

What type of real estate does Medalist Diversified REIT invest in?

Medalist Diversified REIT invests in value-add commercial real estate in the Southeast U.S.