MONMOUTH REAL ESTATE DECLARES COMMON AND PREFERRED DIVIDENDS

Rhea-AI Summary

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced a $0.17 quarterly cash dividend on common stock, payable on December 15, 2020, to shareholders of record as of November 16, 2020. This leads to an annual dividend rate of $0.68 per share. Additionally, a dividend of $0.3828125 per share on the 6.125% Series C Cumulative Redeemable Preferred Stock will also be paid on the same date. Monmouth, a leader in single tenant, net-leased industrial properties, boasts a 99.4% occupancy rate across its 119 properties totaling 23.4 million rentable square feet.

Positive

• Quarterly cash dividend of $0.17 per share enhances shareholder income.
• Annual dividend rate of $0.68 demonstrates company growth and confidence.
• 99.4% occupancy rate indicates strong property management and demand.

Negative

• None.

HOLMDEL, NJ, Oct. 01, 2020 (GLOBE NEWSWIRE) -- On October 1, 2020, the Board of Directors of Monmouth Real Estate Investment Corporation (NYSE:MNR) declared its quarterly cash dividend on the Company’s Common Stock of $0.17 per share payable December 15, 2020, to shareholders of record at the close of business on November 16, 2020. The Company’s annual dividend rate on its Common Stock is $0.68 per share.

Also on October 1, 2020, the Board of Directors declared a dividend for the period September 1, 2020 through November 30, 2020, of $0.3828125 per share on the Company’s 6.125% Series C Cumulative Redeemable Preferred Stock payable December 15, 2020 to shareholders of record as of the close of business on November 16, 2020. Series C preferred share dividends are cumulative and payable quarterly at an annual rate of $1.53125.

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 119 properties containing a total of approximately 23.4 million rentable square feet, geographically diversified across 31 states. The Company’s occupancy rate as of this date is 99.4%.

Contact: Becky Coleridge
732-577-9996
EMAIL: mreic@mreic.com
www.mreic.reit

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