Modiv Industrial Declares Quarterly Dividends for Preferred Shareholders and Monthly Distributions for Common Shareholders
Modiv Industrial, the only public REIT focused exclusively on industrial manufacturing real estate properties, announced quarterly dividends for Series A Preferred Stock and monthly distributions for Common Stock. Preferred shareholders will receive a quarterly cash dividend of $0.4609375 per share, equating to an annualized rate of $1.84375 per share, payable on July 15, 2024. Common shareholders will receive a monthly distribution of $0.09583 per share for July, August, and September 2024, amounting to an annualized distribution rate of $1.15 per share and a 7.3% dividend yield based on the May 21, 2024, closing price of $15.66.
- Quarterly cash dividend of $0.4609375 per share for Series A Preferred Stock.
- Annualized dividend rate for Series A Preferred Stock is $1.84375 per share.
- Monthly cash distribution of $0.09583 per share for Common Stock.
- Annualized distribution rate for Common Stock is $1.15 per share.
- Dividend yield of 7.3% based on the closing price of $15.66 on May 21, 2024.
- No new acquisitions or expansions were announced.
- The press release does not mention any plans for growth or improvement in the company's operations.
- Focuses solely on dividends, with no information on revenue or profit performance.
- Absence of updates on market conditions or competitive positioning.
On May 1, 2024, the Board of Directors authorized a quarterly dividend payable to Series A Preferred Stockholders of record as of June 28, 2024, which will be paid on July 15, 2024. The quarterly dividend amount of
Additionally, the Board of Directors authorized monthly distributions payable to Common Stockholders of record as of July 31, 2024, August 30, 2024 and September 30, 2024, which will be paid on or about August 26, 2024, September 25, 2024 and October 25, 2024, respectively. The current monthly distribution amount of
About Modiv Industrial
Modiv Industrial, Inc. is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation’s supply chains. 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, future distributions 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 Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2024. 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.
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Investor Inquiries:
management@modiv.com
Source: Modiv Industrial, Inc.
FAQ
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