Also on October 3, 2016, the Board of Directors declared a dividend for the period September 13, 2016 through November 30, 2016, of $0.3317708 per share on the Company's 6.125% Series C Cumulative Redeemable Preferred Stock payable December 15, 2016, to shareholders of record at the close of business on November 15, 2016. 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 U.S. 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 ninety-nine properties located in thirty states, containing a total of approximately 16 million rentable square feet. In addition, the Company owns a portfolio of REIT securities.
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SOURCE Monmouth Real Estate Investment Corporation