Modiv Industrial, Inc. (MDV) to Issue Monthly Dividend of $0.10 on March 25th

Modiv Industrial, Inc. (NYSE:MDV) declared a monthly dividend on Friday, November 8th, Wall Street Journal reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.0975 per share on Tuesday, March 25th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date of this dividend is Friday, February 28th. This is a boost from Modiv Industrial’s previous monthly dividend of $0.10.

Modiv Industrial has a payout ratio of -1,170.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Modiv Industrial to earn $0.87 per share next year, which means the company may not be able to cover its $1.17 annual dividend with an expected future payout ratio of 134.5%.

Modiv Industrial Stock Performance

NYSE:MDV opened at $14.73 on Wednesday. The company has a market cap of $142.04 million, a price-to-earnings ratio of -133.86 and a beta of -0.21. The stock’s fifty day moving average price is $14.93 and its two-hundred day moving average price is $15.80. Modiv Industrial has a 52-week low of $13.69 and a 52-week high of $18.11.

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.