Medalist Diversified REIT, Inc. Announces Series A Preferred Stock Cash Dividend

Rhea-AI Summary

Medalist Diversified REIT (NASDAQ: MDRR) has announced a dividend of $0.50 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock for the 2nd quarter of 2022. The dividend is payable on July 21, 2022 to shareholders on record as of July 18, 2022. The company focuses on acquiring and managing commercial real estate in the Southeast U.S., employing a strategy aimed at value-add opportunities for optimal returns.

Positive

• Dividend of $0.50 per share announced, reflecting company confidence.
• Cash dividend payment scheduled for July 21, 2022.

Negative

• None.

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., today announced that its Board of Directors has authorized and the Company has declared a dividend for the 2nd quarter of 2022 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 21, 2022 to holders of record of the Series A Preferred Stock as of July 18, 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/20220627005357/en/

Dave Gentry

RedChip Companies Inc.

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

or 407-491-4498

dave@redchip.com

Source: Medalist Diversified REIT

FAQ

What is the dividend amount for Medalist Diversified REIT for Q2 2022?

The dividend amount is $0.50 per share.

When is the dividend for Medalist Diversified REIT payable?

The dividend will be payable on July 21, 2022.

Who receives the dividend from Medalist Diversified REIT?

Holders of record of the Series A Preferred Stock as of July 18, 2022, will receive the dividend.

What type of stock is the series on which the dividend is declared?

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