Medalist Diversified REIT to Redeem 8.0% Series A Cumulative Redeemable Preferred Stock

Medalist Diversified REIT, Inc. announced on October 23, 2024, its intention to redeem 140,000 shares of its 8.0% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share, on November 25, 2024. The redemption price for the Series A Preferred Stock will be $25.00 per share, plus accrued and unpaid dividends of approximately $0.194 per share, totaling $25.194 per share.

Following the Optional Redemption Date, dividends on the Redeemed Shares will cease, the shares will no longer be outstanding, and all associated rights will terminate, except for the right of holders to receive the redemption payment in cash, without interest. Quarterly dividends of $0.50 per share were paid separately on October 21, 2024, to holders of record as of October 16, 2024, and this amount will not be included in the redemption price.

A press release regarding the notice of redemption has been furnished as Exhibit 99.1 in the Current Report on Form 8-K, and it is not to be considered as filed for Securities Exchange Act of 1934 purposes or integrated by reference in filings under the Securities Act of 1933 or the Exchange Act.

Regarding forward-looking statements, cautionary notes have been mentioned in the Form 8-K about factors that may impact actual outcomes compared to forward-looking statements, such as fluctuations in asset pricing, management-related disruptions, and capital availability changes. Investors are advised not to solely rely on these forward-looking statements, and the company holds no obligation to publicly update or modify them apart from legal requirements.

Additionally, as per the disclosure in Item 9.01, the Form 8-K includes a Press Release dated October 23, 2024, and a Cover Page Interactive Data File, embedding XBRL tags within an Inline XBRL Document.

Followed by these announcements, the report has been signed by C. Brent Winn, Jr., the Chief Financial Officer of Medalist Diversified REIT, Inc. on October 23, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Medalist Diversified REIT’s 8K filing here.

Medalist Diversified REIT Company Profile

Medalist Diversified REIT Inc is a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S. The Company's strategy is to focus on commercial real estate which is expected to provide an attractive balance of risk and returns.