In addition, on January 19, 2017, the Board of Directors declared a quarterly dividend of $0.50 per share for the period from December 1, 2016 through February 28, 2017, on the Company's 8.0% Series B Cumulative Redeemable Preferred Stock payable March 15, 2017, to shareholders of record at the close of business on February 15, 2017. 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 105 manufactured home communities containing approximately 19,100 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.