Modiv Declares Quarterly Dividends for Preferred Shareholders and Monthly Dividends for Common Shareholders

Rhea-AI Summary

Modiv Inc. (NYSE:MDV) has declared a quarterly cash dividend of $0.4609375 per share for its 7.375% Series A Preferred Stock, payable on April 15, 2022, to shareholders of record by March 31, 2022.

Additionally, the company announced a monthly cash dividend of $0.09583 per share for its Class C Common Stock for the months of April, May, and June 2022, with payments scheduled for May 25, June 27, and July 25 respectively. The annualized rates stand at $1.84375 and $1.15 for Preferred and Common Stocks, respectively.

Positive

• Quarterly dividend of $0.4609375 per share for Series A Preferred Stock.
• Monthly dividends of $0.09583 per share for Common Stock announced for three consecutive months.
• Annualized dividend rates of $1.84375 and $1.15 for Series A Preferred and Common Stocks, respectively.

Negative

• None.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Modiv Inc. (“Modiv” or the “Company”) (NYSE:MDV), an internally managed real estate investment trust (“REIT”) that acquires, owns and manages a diversified portfolio of single-tenant net-lease real estate properties, today announced the declaration of a regular quarterly cash dividend of $0.4609375 per share on the Company’s 7.375% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.001 par value per share (the “Series A Preferred Stock”) for the first quarter of 2022 and the declaration of a regular monthly cash dividend of $0.09583 per share on the Company’s Class C common stock, $0.001 par value per share (the “Common Stock”) for each of April, May and June 2022.

The Board of Directors authorized quarterly dividends payable to Series A Preferred Stock holders of record as of March 31, 2022, which will be paid on April 15, 2022. The quarterly dividend amount of $0.4609375 per share represents an annualized dividend rate of $1.84375 per share of Series A Preferred Stock.

Additionally, the Board of Directors authorized monthly dividends payable to Common Stockholders of record as of April 29, 2022, May 31, 2022 and June 30, 2022, which will be paid on or about May 25, 2022, June 27, 2022 and July 25, 2022, respectively. The current monthly dividend amount of $0.09583 per share represents an annualized dividend rate of $1.15 per share of common stock.

About Modiv

Modiv Inc. is an internally managed REIT that acquires, owns and manages a diversified portfolio of single-tenant net-lease real estate. The Company primarily invests in industrial and retail properties that are mission critical to tenants. Driven by innovation and an investor-first focus, Modiv is committed to providing investors with Monthly Dividends and More Diversification. As of December 31, 2021, Modiv had a $500 million real estate portfolio (based on estimated fair value) comprising 2.4 million square feet of aggregate leasable area. For more information, please visit: www.modiv.com.

Forward-looking Statements

Certain statements contained in this press release, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to annualized dividend rates and distributions declared by the Company’s board of directors. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to those described under the section entitled “Risk Factors” in the Company’s prospectus dated February 10, 2022, the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC and the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 filed with the SEC. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Company’s other filings with the SEC. Any forward-looking statements herein speak only as of the time when made and are based on information available to the Company as of such date and are qualified in their entirety by this cautionary statement. The Company assumes no obligation to revise or update any such statement now or in the future, unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005191/en/

Investor Inquiries:

Megan McGrath, Financial Profiles, Inc.

Mmcgrath@finprofiles.com

310-622-8248

Source: Modiv Inc.

FAQ

What is the dividend amount for Modiv Inc. for Q1 2022?

Modiv Inc. has declared a quarterly cash dividend of $0.4609375 per share for its Series A Preferred Stock.

When will Modiv Inc. pay dividends on its Common Stock?

Dividends on Modiv's Common Stock will be paid on May 25, June 27, and July 25, 2022.

What is the annualized dividend rate for Modiv Inc.'s Series A Preferred Stock?

The annualized dividend rate for the Series A Preferred Stock is $1.84375 per share.

What is the monthly dividend for Modiv Inc.'s Common Stock?

The monthly cash dividend for Modiv's Common Stock is $0.09583 per share.

What are the record dates for Modiv Inc.'s dividends?

The record dates for dividends are March 31, April 29, May 31, and June 30, 2022.