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Monmouth Real Estate Investment, 7.625% Series A Cumul Redeem Preferred Stock
Ticker Symbol: MNR-A* CUSIP: 609720206 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/14/2016
Security has been Called for: Friday, October 14, 2016
Sept. 14, 2016 -- Monmouth Real Estate Investment Corporation today announced that it intends to redeem all 2,139,750 issued and outstanding shares of its 7.625% Series A Cumulative Redeemable Preferred Stock (CUSIP 609720206). Series A Preferred Stock held through the Depository Trust Company will be redeemed in accordance with the applicable procedures of the Depositary Trust Company. The redemption date will be October 14, 2016. The Series A Preferred Stock will be redeemed at a redemption price of $25.00 per share, plus all dividends accrued and unpaid to and including the Redemption Date, in an amount equal to $0.23299 per share of Series A Preferred Stock, for a total payment of $25.23299 per share of Series A Preferred Stock, payable in cash, without interest, on the Redemption Date. After the Redemption Date, the Series A Preferred Stock will no longer be outstanding and all of the rights of the holders of the Series A Preferred Stock will terminate, except the right to receive the redemption price, plus any accrued and unpaid dividends payable on the Redemption Date, without interest. Furthermore, because all of the issued and outstanding shares of Series A Preferred Stock are being redeemed, trading of the Series A Preferred Stock on the New York Stock Exchange ("NYSE") will cease after the Redemption Date. The Series A Preferred Stock currently trades on the NYSE under the symbol "MNR PRA".
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Monmouth Real Estate Investment Corp., 7.625% Series A Cumulative Redeemable Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 12/5/2011 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Distributions of 7.625% ($1.90625) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date. Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (MNR)
IPO - 12/1/2006 - 1.15 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MNRTP Changed: 6/03/2010
Market Value $56.7 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ 07728 |
| Main Phone Number |
732-577-9996 |
| Fax Number |
732-577-9981 |
| Investor Relations
Susan Jordan
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732-577-9996
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Toll Free Phone Number |
Unknown |
| CEO - Eugene W. Landy |
CFO - Kevin S. Miller |
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