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Section 1: 8-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) January 29, 2019

 

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

(Exact name of registrant as specified in its charter)

 

MARYLAND   001-33177   22-1897375
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   Identification No.)

 

3499 Route 9N, Suite 3D, Freehold, NJ   07728
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code (732) 577-9996

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

[  ] Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)
   
[  ] Soliciting material pursuant to Rule 142-12 under the Exchange Act (17 CFR 240.14a-12)
   
[  ] Pre-commencement communications pursuant to rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [  ]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]

 

 

 

   

 

 

Item 7.01 Regulation FD Disclosure.

 

On January 29, 2019, the Company issued a press release announcing the tax treatment for its 2018 distributions.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

  99 Press Release dated January 29, 2019

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

 

/s/ Kevin S. Miller  
KEVIN S. MILLER  
Chief Financial and Accounting Officer  
   
Date January 30, 2019  

 

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Section 2: EX-99

 

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

 

JUNIPER BUSINESS PLAZA

3499 ROUTE 9 NORTH, SUITE 3-D

FREEHOLD, NEW JERSEY 07728

A Public REIT Since 1968

 

 

 

INTERNET:   (732) 577-9996   EMAIL:
www.mreic.reit   FAX: (732) 577-9981   mreic@mreic.com

 

FOR IMMEDIATE RELEASE   January 29, 2019
     
    Contact: Susan Jordan
    732-577-9996

 

MONMOUTH REAL ESTATE ANNOUNCES TAX TREATMENT

FOR 2018 DISTRIBUTIONS

 

FREEHOLD, NJ, JANUARY 29, 2019……Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced the tax treatment of its 2018 distributions. The following tables summarize, for income tax purposes, the nature of cash distributions paid to stockholders of Monmouth’s common and preferred shares during the calendar year ended December 31, 2018.

 

Common - CUSIP 609720107

 

Shown as Dollars ($)
Payment
Date
  Distributions
Paid Per Share
   Non-Qualifying Ord. Income (1a)   Total Long-Term Capital Gain (2a)  

Unrecap Sec 1250 Gain (2b)

   Return of Capital (3)   Section 199A Dividends (5) 
3/15/2018  $0.170000   $0.103119   $0.000128   $0.000000   $0.066753   $0.103119 
6/15/2018  $0.170000   $0.088898   $0.023555   $0.003989   $0.057547   $0.088898 
9/17/2018  $0.170000   $0.103197   $0.000000   $0.000000   $0.066803   $0.103197 
12/17/2018  $0.170000   $0.103197   $0.000000   $0.000000   $0.066803   $0.103197 
TOTAL  $0.680000   $0.398411   $0.023683   $0.003989   $0.257906   $0.398411 

 

Shown as a Percentage (%)
Payment
Date
  Distributions Paid Per Share   Non-Qualifying Ord. Income (1a)   Total Long-Term Capital Gain (2a)  

Unrecap Sec 1250 Gain (2b)

   Return of Capital (3)   Section 199A Dividends (5) 
3/15/2018  $0.170000    60.658260%   0.075442%   0.000000%   39.266298%   60.658260%
6/15/2018  $0.170000    52.292957%      13.855910%   16.936037%   33.851133%   52.292957%
9/17/2018  $0.170000    60.704056%   0.000000%   0.000000%   39.295944%   60.704056%
12/17/2018  $0.170000    60.704056%   0.000000%   0.000000%   39.295944%   60.704056%
TOTAL  $0.680000    58.589832%   3.482838%   16.936037%   37.927330%   58.589832%

 

6.125% Series C Cumulative Redeemable Preferred - CUSIP 609720404

 

Shown as Dollars ($)
Payment
Date
  Distributions
Paid Per Share
   Non-Qualifying
Ord. Income (1a)
   Total Long-Term Capital Gain (2a)  

Unrecap Sec 1250 Gain (2b)

   Return of Capital (3)   Section 199A
Dividends (5)
 
3/15/2018  $0.382813   $0.382363   $0.000450   $0.000000   $0.00   $0.382363 
6/15/2018  $0.382813   $0.299344   $0.083469   $0.011010   $0.00   $0.299344 
9/17/2018  $0.382813   $0.382813   $0.000000   $0.000000   $0.00   $0.382813 
12/17/2018  $0.382813   $0.382813   $0.000000   $0.000000   $0.00   $0.382813 
TOTAL  $1.531252   $1.447333   $0.083919   $0.011010   $0.00   $1.447333 

 

Shown as a Percentage (%)
Payment
Date
  Distributions
Paid Per Share
   Non-Qualifying
Ord. Income (1a)
   Total Long-Term Capital Gain (2a)  

Unrecap Sec 1250 Gain (2b)

   Return of Capital (3)   Section 199A Dividends (5) 
3/15/2018  $0.382813    99.882469%   0.117531%   0.000000%          0%   99.882469%
6/15/2018  $0.382813    78.195814%   21.804186%   13.190745%   0%   78.195814%
9/17/2018  $0.382813    100.000000%   0.000000%   0.000000%   0%   100.000000%
12/17/2018  $0.382813    100.000000%   0.000000%   0.000000%   0%   100.000000%
TOTAL  $1.531252    94.519571%   5.480429%   13.190745%   0%   94.519571%

 

NOTE: Unrecaptured Section 1250 Gain (Box 2b) is a subset of, and is included in, the Total Capital Gain Distributions reported in Box 2a.

 

Section 199A Dividends (Box 5) is a subset of, and is included in, the Total Ordinary Dividends reported in Box 1a.

 

   

 

 

DIVIDEND REINVESTMENT PLAN DISCOUNTS - Common – CUSIP 609720107

 

Payment Date  Fair Market Value   Discount Price   Discount on D/R 
1/16/2018  $17.180   $16.37   $0.810 
2/15/2018  $14.030   $13.50   $0.530 
3/15/2018  $14.850   $14.14   $0.710 
4/16/2018  $15.120   $14.36   $0.760 
5/15/2018  $15.290   $14.80   $0.490 
6/15/2018  $15.425   $14.66   $0.765 
7/16/2018  $16.800   $16.06   $0.740 
8/16/2018  $16.840   $16.04   $0.800 
9/17/2018  $17.210   $16.39   $0.820 
10/15/2018  $15.020   $14.43   $0.590 
11/15/2018  $14.840   $14.22   $0.620 
12/17/2018  $13.715   $13.09   $0.625 

 

Shareholders are encouraged to consult with their tax advisors as to the specific tax treatment of the distributions they received from the Company.

 

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. MREIC The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 113 properties containing a total of approximately 21.6 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.

 

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