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8-K - FORM 8-K - MONMOUTH REAL ESTATE INVESTMENT CORP | mreic8k_dividends412014.htm |
FOR IMMEDIATE RELEASE
April 1, 2014
Contact: Susan M. Jordan
732-577-9996
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
DECLARES COMMON AND PREFERRED DIVIDENDS
FREEHOLD, NJ, April 1, 2014 ..On April 1, 2014, the Board of Directors of Monmouth Real Estate Investment Corporation (NYSE:MNR) declared its quarterly cash dividend on the Companys Common Stock of $0.15 per share payable June 16, 2014, to shareholders of record at the close of business on May 15, 2014. The Companys annual dividend rate on its Common Stock is $0.60 per share.
On April 1, 2014, the Board of Directors declared a dividend for the period commencing March 1, 2014 through May 31, 2014, of $0.4765625 per share on the Companys 7.625% Series A Cumulative Redeemable Preferred Stock payable June 16, 2014, to shareholders of record at the close of business on May 15, 2014. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Also on April 1, 2014, the Board of Directors declared a dividend for the period March 1, 2014 through May 31, 2014, of $0.4921875 per share on the Companys 7.875% Series B Cumulative Redeemable Preferred Stock payable June 16, 2014, to shareholders of record at the close of business on May 15, 2014. Series B preferred share dividends are cumulative and payable quarterly at an annual rate of $1.96875.
Monmouth Real Estate Investment Corporation, founded in 1968 and one of the oldest public equity REITs in the U.S., specializes in net-leased industrial properties subject to long-term leases primarily to investment grade tenants. The Company is a fully integrated and self-managed real estate company, whose property portfolio consists of eighty industrial properties and one shopping center located in twenty-seven states, containing a total of approximately 10.7 million rentable square feet. In addition, the Company owns a portfolio of REIT securities.
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