FREEHOLD, N.J., Oct. 1, 2012 /PRNewswire/ -- On October 1, 2012, 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 December 17, 2012, to shareholders of record at the close of business on November 15, 2012. The Company's annual dividend rate on its Common Stock is $0.60 per share.
On October 1, 2012, the Board of Directors declared a dividend for the period commencing September 1, 2012 through November 30, 2012, of $0.4765625 per share on the Company's 7.625% Series A Cumulative Redeemable Preferred Stock payable December 17, 2012, to shareholders of record at the close of business on November 15, 2012. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Also on October 1, 2012, the Board of Directors declared a dividend for the period September 1, 2012 through November 30, 2012, of $0.4921875 per share on the Company's 7.875% Series B Cumulative Redeemable Preferred Stock payable December 17, 2012, to shareholders of record at the close of business on November 15, 2012. Series B preferred share dividends are cumulative and payable quarterly at an annual rate of $1.96875.
Monmouth Real Estate Investment Corp., which was organized in 1968, is a publicly owned real estate investment trust (REIT) specializing 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 seventy-one industrial properties and one shopping center located in twenty-six states. In addition, the Company owns a portfolio of REIT securities.
SOURCE Monmouth Real Estate Investment Corporation