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Section 1: 8-K

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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 28, 2020

 

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.)

 

101 Crawfords Corner Road, Suite 1405, Holmdel, NJ   07733
(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 14a-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))

 

Securities registered pursuant to Section 12(b) of the Act:

 

    Trading    
Title of each class   Symbol(s)   Name of each exchange on which registered
Common Stock   MNR   New York Stock Exchange
6.125% Series C Cumulative Redeemable Preferred Stock   MNR-PC   New York Stock Exchange

 

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 28, 2020, the Company issued a press release announcing the tax treatment for its 2019 distributions.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

99 Press Release dated January 28, 2020

 

   
 

 

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
     
Dated: January 29, 2020 By: /s/ Kevin S. Miller
    Kevin S. Miller
    Chief Financial Officer and Chief Accounting Officer

 

   
 

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Section 2: EX-99

 

Exhibit 99

 

MONMOUTH REAL ESTATE INVESTMENT CORPORATION

 

BELL WORKS

 

101 CRAWFORDS CORNER ROAD

 

SUITE 1405

 

HOLMDEL, NEW JERSEY 07733

 

A Public REIT Since 1968

____

 

INTERNET:   (732) 577-9996   EMAIL:
www.mreic.reit   FAX: (732) 577-9981   [email protected]

 

FOR IMMEDIATE RELEASE   January 28, 2020
     
    Contact:  Becky Coleridge
    732-577-9996

 

MONMOUTH REAL ESTATE ANNOUNCES TAX TREATMENT

FOR 2019 DISTRIBUTIONS

 

HOLMDEL, NJ, JANUARY 28, 2020……Monmouth Real Estate Investment Corporation (NYSE:MNR) today announced the tax treatment of its 2019 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, 2019.

 

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) 
3/15/2019  $0.170000   $0.077930   $0.000000   $0.000000   $0.092070   $0.077930 
6/17/2019  $0.170000   $0.077930   $0.000000   $0.000000   $0.092070   $0.077930 
9/16/2019  $0.170000   $0.077930   $0.000000   $0.000000   $0.092070   $0.077930 
12/16/2019  $0.170000   $0.077930   $0.000000   $0.000000   $0.092070   $0.077930 
TOTAL  $0.680000   $0.311720   $0.000000   $0.000000   $0.368280   $0.311720 

 

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) 
3/15/2019  $0.170000    45.841109%   0.000000%   0.000000%   54.158891%   45.841109%
6/17/2019  $0.170000    45.841109%   0.000000%   0.000000%   54.158891%   45.841109%
9/16/2019  $0.170000    45.841109%   0.000000%   0.000000%   54.158891%   45.841109%
12/16/2019  $0.170000    45.841109%   0.000000%   0.000000%   54.158891%   45.841109%
TOTAL  $0.680000    45.841109%   0.000000%   0.000000%   54.158891%   45.841109%

 

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) 
3/15/2019  $0.382813   $0.382813   $0.000000   $0.000000   $0.000000   $0.382813 
6/17/2019  $0.382813   $0.382813   $0.000000   $0.000000   $0.000000   $0.382813 
9/16/2019  $0.382813   $0.382813   $0.000000   $0.000000   $0.000000   $0.382813 
12/16/2019  $0.382813   $0.382813   $0.000000   $0.000000   $0.000000   $0.382813 
TOTAL  $1.531252   $1.531252   $0.000000   $0.000000   $0.000000   $1.531252 

 

   
 

 

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) 
3/15/2019  $0.382813    100.000000%   0.000000%   0.000000%   0.000000%   100.000000%
6/17/2019  $0.382813    100.000000%   0.000000%   0.000000%   0.000000%   100.000000%
9/16/2019  $0.382813    100.000000%   0.000000%   0.000000%   0.000000%   100.000000%
12/16/2019  $0.382813    100.000000%   0.000000%   0.000000%   0.000000%   100.000000%
TOTAL  $1.531252    100.000000%   0.000000%   0.000000%   0.000000%   100.000000%

 

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 
1/15/2019  $12.77   $12.15   $0.62 
2/15/2019  $13.69   $13.01   $0.68 
3/15/2019  $13.25   $12.60   $0.65 
4/15/2019  $13.43   $12.84   $0.59 
5/15/2019  $13.95   $13.37   $0.58 
6/17/2019  $13.82   $13.15   $0.67 
7/15/2019  $13.75   $13.15   $0.60 
8/15/2019  $13.10   $12.60   $0.50 
9/16/2019  $14.42   $13.70   $0.72 
10/15/2019  $14.46   $13.74   $0.72 
11/15/2019  $14.76   $14.03   $0.73 
12/16/2019  $14.81   $14.19   $0.62 

 

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. 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 115 properties containing a total of approximately 22.9 million rentable square feet, geographically diversified across 30 states. In addition, the Company owns a portfolio of REIT securities.

 

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