FREEHOLD, N.J., July 9, 2012 /PRNewswire/ -- On July 9, 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 September 17, 2012, to shareholders of record at the close of business on August 15, 2012. The Company's annual dividend rate on its Common Stock is $0.60 per share.
On July 9, 2012, the Board of Directors declared a dividend for the period commencing June 1, 2012 through August 31, 2012, of $0.4766 per share on the Company's 7.625% Series A Cumulative Redeemable Preferred Stock payable September 17, 2012, to shareholders of record at the close of business on August 15, 2012. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Also on July 9, 2012, the Board of Directors declared a dividend for the period June 7, 2012 through August 31, 2012, of $0.459375 per share on the Company's 7.875% Series B Cumulative Redeemable Preferred Stock payable September 17, 2012, to shareholders of record at the close of business on August 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's portfolio consists of seventy industrial properties and one shopping center located in twenty-five states. In addition, the Company owns a portfolio of REIT securities.
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