Modiv Industrial, Inc. (NYSE:MDV – Get Free Report) declared a monthly dividend on Wednesday, March 20th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.0958 per share on Thursday, July 25th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 8.14%. The ex-dividend date of this dividend is Friday, June 28th.
Modiv Industrial has a dividend payout ratio of -884.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Modiv Industrial to earn $1.36 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 84.6%.
Modiv Industrial Trading Up 0.9 %
Shares of NYSE MDV opened at $14.13 on Thursday. Modiv Industrial has a 1-year low of $11.79 and a 1-year high of $19.12. The business’s 50 day moving average is $15.08 and its 200-day moving average is $15.14.
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Check Out Our Latest Analysis on MDV
Modiv Industrial Company Profile
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.
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