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Medalist Diversified REIT, Inc. Announces Cash Dividend of $0.01 Per Share on Its Common Stock and $0.50 Per Share on Its Series A Preferred Stock
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Rhea-AI Sentiment
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Tags
dividends
RICHMOND, Va.--(BUSINESS WIRE)--
Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the "Company" or "Medalist"), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced today that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company’s common stock (the "Common Stock Dividend"). The Common Stock Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.
The Board of Directors also declared a dividend of $0.50 per share on the Company’s 8.0% Series A Cumulative Redeemable Preferred Stock (the "Series A Dividend"). The Series A Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.
About Medalist Diversified REIT
Medalist Diversified REIT Inc. is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing value-add commercial real estate in the Mid-Atlantic and Southeast regions. The Company’s strategy is to focus on value-add and opportunistic commercial real estate which is expected to provide an attractive balance of risk and returns. Medalist utilizes a rigorous, consistent and replicable process for sourcing and conducting due diligence of acquisitions. The Company seeks to maximize operating performance of current properties by utilizing a hands-on approach to property management while monitoring the middle market real estate markets in the southeast for acquisition opportunities and disposal of properties as considered appropriate. For more information on Medalist, please visit the Company website at www.medalistreit.com.
medalist diversified reit inc. is a maryland corporation formed on september 28, 2015. beginning with our taxable year ended december 31, 2017, we believe that we have operated in a manner qualifying us as a real estate investment trust (âreitâ), and we have elected to be taxed as a reit for federal income tax purposes. our company serves as the general partner of medalist diversified holdings, lp which was formed as a delaware limited partnership on september 29, 2015. our company was formed to acquire, reposition, renovate, lease and manage income-producing properties, with a primary focus on (i) commercial properties, including flex-industrial and retail properties, (ii) multi-family residential properties and (iii) limited service hotel properties in secondary and tertiary markets in the southeastern part of the united states, with an expected concentration in virginia, north carolina, south carolina, georgia, florida and alabama.
