FREEHOLD, N.J., April 7, 2011 /PRNewswire/ -- On April 7, 2011, 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 June 15, 2011, to shareholders of record at the close of business on May 16, 2011. The Company's annual dividend rate on its Common Stock is $0.60 per share.
Also on April 7, 2011, the Board of Directors declared a dividend for the period commencing March 1, 2011 and ending May 31, 2011, of $0.4766 per share on the Company's 7.625% Series A Cumulative Redeemable Preferred Stock payable June 15, 2011, to shareholders of record at the close of business on May 16, 2011. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Monmouth Real Estate Investment Corp., which was organized in 1968, is a publicly-owned REIT specializing in net-leased industrial properties. The Company's portfolio consists of sixty-four 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