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Medalist Diversified, Inc. reports developments tied to its commercial real estate portfolio and Delaware Statutory Trust sponsor platform. The company sponsors DST offerings through MDRR Sponsor TRS, LLC for accredited 1031 exchange investors, while its real estate activity has included retail centers, flex/industrial properties and single-tenant net lease properties.
Recurring updates include common stock dividends, DST offering announcements, property acquisitions and dispositions, credit arrangements, board composition and corporate repositioning from its prior REIT framework toward a broader public real estate company structure.
Medalist Diversified REIT (NASDAQ: MDRR) has increased its line of credit to $4 million from $1.5 million, enhancing financial flexibility and supporting future growth. The expanded credit facility has an interest rate of SOFR + 3.1%. CFO Brent Winn emphasized the importance of this development for seizing new opportunities in high-growth real estate markets.
Additionally, the company has declared a quarterly cash dividend of $0.06 per share on its common stock and $0.50 per share on its 8.0% Series A Cumulative Redeemable Preferred Stock. Both dividends will be payable on October 21, 2024, to holders of record as of October 16, 2024.
Medalist Diversified REIT (NASDAQ: MDRR) announced quarterly dividends for its common and preferred stock. The Board of Directors has declared a $0.05 per share dividend for common stockholders, payable on July 26, 2024, to those recorded by July 23, 2024. Additionally, the company declared a $0.50 per share dividend for its 8.0% Series A Cumulative Redeemable Preferred Stock, also payable on July 26, 2024, to holders recorded by July 23, 2024.
Medalist Diversified REIT (NASDAQ: MDRR), a Virginia-based real estate investment trust, announced the effectiveness of a 1-for-10 reverse stock split and a 5-for-1 forward stock split, both effective on July 2, 2024. The reverse stock split will reduce every ten shares of common stock to one, while the forward stock split will convert every share into five shares. These adjustments will uniformly impact all shareholders without altering their percentage ownership, except for fractional shares settled in cash. Trading on a split-adjusted basis will commence on July 3, 2024, under the ticker 'MDRR' with a new CUSIP number. The total number of outstanding common stock shares will be reduced from 2,236,631 to approximately 1,118,315.
Medalist Diversified REIT (NASDAQ: MDRR) announced a one-for-ten reverse stock split and a five-for-one forward stock split. Both splits will take effect on July 2, 2024, with trading on a split-adjusted basis starting July 3, 2024, under the new CUSIP number 58403P402. The reverse split will convert every ten shares into one, followed by the forward split which will convert every one share into five. These adjustments will not change any stockholder's ownership percentage, except for minor changes due to cash payments in place of fractional shares. Shareholders will be informed of their new stock ownership details by VStock Transfer , the company's transfer agent.
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