Medalist Diversified REIT, Inc. Announces Dividend of $0.05 Per Share on Its Common Stock and $0.50 Per Share on Its Series A Preferred Stock

Rhea-AI Summary

Medalist Diversified REIT (NASDAQ: MDRR) announced quarterly dividends for its common and preferred stock. The Board of Directors has declared a $0.05 per share dividend for common stockholders, payable on July 26, 2024, to those recorded by July 23, 2024. Additionally, the company declared a $0.50 per share dividend for its 8.0% Series A Cumulative Redeemable Preferred Stock, also payable on July 26, 2024, to holders recorded by July 23, 2024.

Positive

• Quarterly dividend of $0.05 per share for common stockholders shows company profitability and confidence.
• Dividend of $0.50 per share for Series A Preferred Stock indicates strong financial health.

Negative

• Dividend payments totaling $0.05 per common share and $0.50 per Series A preferred share could impact cash reserves.

RICHMOND, Va.--(BUSINESS WIRE)-- Medalist Diversified REIT (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 that its Board of Directors has authorized and the Company has declared a quarterly dividend on its common stock (the "Common Stock") in the amount of $0.05 per share (the "Dividend"). The Dividend will be payable in cash on July 26, 2024 to holders of record of the Common Stock as of July 23, 2024.

The Board of Directors has also authorized and the Company has declared a quarterly dividend on its 8.0% Series A Cumulative Redeemable Preferred Stock (the "Series A Preferred Stock") in the amount of $0.50 per share (the "Series A Dividend"). The Series A Dividend will be payable in cash on July 26, 2024 to holders of record of the Series A Preferred Stock as of July 23, 2024.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240705137079/en/

Brent Winn

Medalist Diversified REIT, Inc.

bwinn@medalistreit.com

Source: Medalist Diversified REIT, Inc.

FAQ

What dividend did Medalist Diversified REIT announce for its common stock?

Medalist Diversified REIT announced a $0.05 per share dividend for its common stock.

When will Medalist Diversified REIT pay the declared dividend?

The dividend will be payable on July 26, 2024.

What is the record date to be eligible for the Medalist Diversified REIT dividend?

The record date is July 23, 2024.

How much is the dividend for Medalist Diversified REIT's Series A Preferred Stock?

The dividend for Series A Preferred Stock is $0.50 per share.

What is the significance of the dividend announcement for MDRR stockholders?

The dividend announcement reflects company profitability and financial health, benefiting stockholders with regular income.