FREEHOLD, N.J., July 1, 2013 /PRNewswire/ -- On July 1, 2013, 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 16, 2013, to shareholders of record at the close of business on August 15, 2013. The Company's annual dividend rate on its Common Stock is $0.60 per share.
On July 1, 2013, the Board of Directors declared a dividend for the period commencing June 1, 2013 through August 31, 2013, of $0.4765625 per share on the Company's 7.625% Series A Cumulative Redeemable Preferred Stock payable September 16, 2013, to shareholders of record at the close of business on August 15, 2013. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share.
Also on July 1, 2013, the Board of Directors declared a dividend for the period June 1, 2013 through August 31, 2013, of $0.4921875 per share on the Company's 7.875% Series B Cumulative Redeemable Preferred Stock payable September 16, 2013, to shareholders of record at the close of business on August 15, 2013. 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 seventy-three industrial properties and one shopping center located in twenty-six states, containing a total of approximately 9.4 million rentable square feet. In addition, the Company owns a portfolio of REIT securities.
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