Monmouth Real Estate to redeem all $57.5 million 7.875% preferreds

By Wendy Van Sickle

Columbus, Ohio, May 5 – Monmouth Real Estate Investment Corp. plans to redeem all $57.5 million of its 7.875% series B cumulative redeemable preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

The 2.3 million preferreds will be redeemed at $25 each plus accrued dividends of $0.0328125 per share on June 7.

The quarterly dividend for the dividend period ending May 31 of $0.4921875 per share, which was declared on April 4 and is payable to holders of record as of May 15, will be paid on June 15.

American Stock Transfer & Trust Co. is the redemption agent.

Monmouth is a Freehold, N.J.-based real estate investment trust.

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