In addition, on October 3, 2016, the Board of Directors declared a quarterly dividend of $0.50 for the period from September 1, 2016 through November 30, 2016, on the Company's 8.0% Series B Cumulative Redeemable Preferred Stock payable December 15, 2016, to shareholders of record at the close of business on November 15, 2016. Series B preferred share dividends are cumulative and payable quarterly at an annual rate of $2.00 per share.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates one hundred manufactured home communities containing approximately 18,000 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. In addition, the Company owns a portfolio of REIT securities.
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SOURCE UMH Properties, Inc.