HOLMDEL, N.J., Oct. 1, 2019 /PRNewswire/ -- On October 1, 2019, the Board of Directors of Monmouth Real Estate Investment Corporation (MNR) declared its quarterly cash dividend on the Company's Common Stock of $0.17 per share payable December 16, 2019, to shareholders of record at the close of business on November 15, 2019. The Company's annual dividend rate on its Common Stock is $0.68 per share.
Also on October 1, 2019, the Board of Directors declared a dividend for the period September 1, 2019 through November 30, 2019, of $0.3828125 per share on the Company's 6.125% Series C Cumulative Redeemable Preferred Stock payable December 16, 2019 to shareholders of record as of the close of business on November 15, 2019. Series C preferred share dividends are cumulative and payable quarterly at an annual rate of $1.53125.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 114 properties containing a total of approximately 22.3 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.