Exhibit 99
MONMOUTH REAL ESTATE INVESTMENT CORPORATION
BELL WORKS
101 CRAWFORDS CORNER ROAD
SUITE 1405
HOLMDEL, NEW JERSEY 07733
A Public REIT Since 1968
| INTERNET: | | OFFICE: | | EMAIL: |
| www.mreic.reit | | (732) 577-9996 | | mreic@mreic.com |
| FOR IMMEDIATE RELEASE | | October 1, 2020 |
| | | |
| | | Contact: Becky Coleridge 732-577-9996 |
MONMOUTH REAL ESTATE DECLARES
COMMON AND PREFERRED DIVIDENDS
HOLMDEL, NJ, October 1, 2020…...On October 1, 2020, the Board of Directors of Monmouth Real Estate Investment Corporation (NYSE:MNR) declared its quarterly cash dividend on the Company’s Common Stock of $0.17 per share payable December 15, 2020, to shareholders of record at the close of business on November 16, 2020. The Company’s annual dividend rate on its Common Stock is $0.68 per share.
Also on October 1, 2020, the Board of Directors declared a dividend for the period September 1, 2020 through November 30, 2020, of $0.3828125 per share on the Company’s 6.125% Series C Cumulative Redeemable Preferred Stock payable December 15, 2020 to shareholders of record as of the close of business on November 16, 2020. Series C preferred share dividends are cumulative and payable quarterly at an annual rate of $1.53125.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 119 properties containing a total of approximately 23.4 million rentable square feet, geographically diversified across 31 states. The Company’s occupancy rate as of this date is 99.4%.
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