Business
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 Cash Dividend
RICHMOND, Va.--(BUSINESS WIRE)-- Medalist Diversified REIT (NASDAQ: MDRR) (the "Company" or "Medalist"), a Virginia-based real estate investment trust that
About this update from Medalist Diversified, Inc.
[{"type":"text","content":" RICHMOND, Va.--(BUSINESS WIRE)--\nMedalist Diversified REIT (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 that its Board of Directors has authorized and the Company has declared a quarterly cash dividend on its common stock (the \"Common Stock\") in the amount of $0.01 per share (the \"Dividend\"). The 4th quarter 2022 dividend will be payable in cash on January 27, 2023 to holders of record of the Common Stock as of January 24, 2023.\n\nThe Board of Directors has also authorized and the Company has declared a dividend for the 4th quarter of 2022 on its 8.0% Series A Cumulative Redeemable Preferred Stock (the \"Series A Preferred Stock\") in the amount of $0.50 per share (the \"Series A Dividend\"). The Series A Dividend will be payable in cash on January 27, 2023 to holders of record of the Series A Preferred Stock as of January 24, 2023.\n\nAbout Medalist Diversified REIT\n\nMedalist 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.\n\nForward Looking Statements\n\nThis press release contains statements that are \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically ...