Modiv Industrial, Inc. (MDV) To Go Ex-Dividend on June 30th

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Friday, March 14th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be paid a dividend of 0.0975 per share on Tuesday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 7.66%. The ex-dividend date of this dividend is Monday, June 30th.

Modiv Industrial has a payout ratio of 3,900.0% indicating that 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 Trading Up 0.3 %

Shares of NYSE MDV opened at $15.28 on Friday. Modiv Industrial has a one year low of $13.69 and a one year high of $18.11. The firm has a market capitalization of $152.30 million, a PE ratio of -138.91 and a beta of -0.22. The business has a 50-day moving average price of $14.99 and a two-hundred day moving average price of $15.81.

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.