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Monmouth Real Estate Investment Corporation Declares Common and Preferred Dividends
FREEHOLD, N.J., July 1 /PRNewswire-FirstCall/ -- On July 1, 2010, the Board of Directors of Monmouth Real Estate Investment Corporation (NYSE: MNR) declared its quarterly cash dividend on the Company's Common Stock of $0.15 per share payable September 15, 2010, to shareholders of record at the close of business on August 16, 2010. The Company's annual dividend rate on its Common Stock is $0.60 per share.
Also on July 1, 2010, the Board of Directors declared a dividend for the period commencing June 1, 2010 and ending August 31, 2010, of $0.4766 per share on the Company's 7.625% Series A Cumulative Redeemable Preferred Stock payable September 15, 2010, to shareholders of record at the close of business on August 16, 2010. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Monmouth Real Estate Investment Corporation, which was organized in 1968, is a publicly-owned real estate investment trust specializing in net-leased industrial properties. The Company's portfolio consists of sixty-two industrial properties and one shopping center located in twenty-five states. In addition, the Company owns a portfolio of REIT securities.
SOURCE Monmouth Real Estate Investment Corporation
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