Announces Upcoming Conference Schedule and Tax Status of 2023 Distributions
Modiv Industrial, Inc. (“Modiv Industrial,” “Modiv” or the “Company”) (NYSE: MDV), the only public REIT exclusively focused on acquiring industrial manufacturing real estate properties, today announced the following:
Fourth Quarter 2023 Financial Results – will be released before the market opens on Monday, March 4, 2024. Management will host a conference call the same day at 8:30 a.m. Eastern Time to discuss the results.
Live conference call: 1-877-407-0789
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1658305&tp_key=83c3e36e04
Institutional Conference Schedule – Modiv will be participating in the following institutional REIT conferences in the first half of 2024.
Wolfe Research Third Annual Real Estate Conference – February 28 – 29, 2024
Citi 2024 Global Property CEO Conference – March 4 – 6, 2024
Janney Montgomery Scott Forth Annual Real Estate Conference – May 14, 2024
Nareit REITweek – June 4 – 6, 2024
2023 Tax Treatment – for common stock (NYSE: MDV) distributions and preferred stock (NYSE: MDV.PA) dividends are listed below.
Total Per Share Common Stock Distributions Paid in 2023 |
$ 1.15000 |
|
Per Share Ordinary Income Portion of Distributions |
$ 0.33316 (28.97%) |
|
Per Share Non-Taxable Portion of Distributions (return of capital) |
$ 0.81684 (71.03%) |
Total Per Share Series A Preferred Stock Dividends Paid in 2023 |
$ 1.84375 |
|
Per Share Ordinary Income Portion of Dividends |
$ 1.66288 (90.19%) |
|
Per Share Capital Gains Portion of Dividends |
$ 0.18087 (9.81%) |
Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of any Modiv Industrial dividends received.
About Modiv Industrial
Modiv Industrial, Inc., is an internally managed REIT that is focused on single-tenant net-lease industrial manufacturing real estate. The Company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation’s supply chains. For more information, please visit: www.modiv.com.
Forward-looking Statements
Certain statements contained in this press release, other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to annualized dividend rates, future distributions and distributions declared by the Company’s board of directors. Such forward-looking statements are subject to various risks and uncertainties, including but not limited to those described under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission (the “SEC”) on March 13, 2023. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in the Company’s other filings with the SEC. Any forward-looking statements herein speak only as of the time when made and are based on information available to the Company as of such date and are qualified in their entirety by this cautionary statement. The Company assumes no obligation to revise or update any such statement now or in the future, unless required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240220524060/en/
Contacts
Inquiries:
management@modiv.com
