Monmouth Capital Corporation Declares Dividend
April 03 2006 - 12:39PM
PR Newswire (US)
FREEHOLD, N.J., April 3 /PRNewswire-FirstCall/ -- On April 3, 2006,
the Board of Directors of Monmouth Capital Corporation
(NASDAQ:MONM) declared a dividend of $0.25 a share, payable June
15, 2006 to shareholders of record May 15, 2006. Eugene W. Landy,
President, stated, "Future dividend policy will depend on the
Company's earnings, capital requirements, financial condition,
availability and cost of bank financing and other factors
considered relevant by the Board of Directors." Mr. Landy also
stated, "Monmouth Capital Corporation is a very small REIT and is a
company in transition. Management believes MONM must grow to a $100
million asset REIT in order to operate efficiently. MONM is seeking
new real property acquisitions in a very competitive market for
acquisitions." Monmouth Capital Corporation is currently operating
as a hybrid real estate investment trust (REIT), investing in real
estate equities, mortgages, mortgage-backed securities and other
REIT securities. MONM is part of a family of REITs including UMH
Properties, Inc. (AMEX:UMH), which invests in manufactured home
communities, and Monmouth Real Estate Investment Corporation
(NASDAQ:MNRTA), which invests in net-leased industrial properties
on long-term leases to investment grade tenants. It is MONM's
intention to pursue any real estate opportunities other than the
specialized areas of UMH Properties, Inc. and Monmouth Real Estate
Investment Corporation. DATASOURCE: Monmouth Capital Corporation
CONTACT: Rosemarie Faccone or Susan Jordan, Monmouth Capital
Corporation, +1-732-577-9997
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