FREEHOLD, N.J., April 1, 2014 /PRNewswire/ -- On April 1, 2014, 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 16, 2014, to shareholders of record at the close of business on May 15, 2014. The Company's annual dividend rate on its Common Stock is $0.60 per share.
On April 1, 2014, the Board of Directors declared a dividend for the period commencing March 1, 2014 through May 31, 2014, of $0.4765625 per share on the Company's 7.625% Series A Cumulative Redeemable Preferred Stock payable June 16, 2014, to shareholders of record at the close of business on May 15, 2014. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Also on April 1, 2014, the Board of Directors declared a dividend for the period March 1, 2014 through May 31, 2014, of $0.4921875 per share on the Company's 7.875% Series B Cumulative Redeemable Preferred Stock payable June 16, 2014, to shareholders of record at the close of business on May 15, 2014. Series B preferred share dividends are cumulative and payable quarterly at an annual rate of $1.96875.
Monmouth Real Estate Investment Corporation, founded in 1968 and one of the oldest public equity REITs in the U.S., specializes in net-leased industrial properties subject to long-term leases primarily to investment grade tenants. The Company is a fully integrated and self-managed real estate company, whose property portfolio consists of eighty industrial properties and one shopping center located in twenty-seven states, containing a total of approximately 10.7 million rentable square feet. In addition, the Company owns a portfolio of REIT securities.
SOURCE Monmouth Real Estate Investment Corporation
