Modiv Industrial, Inc. (NYSE:MDV) Plans Monthly Dividend of $0.10

Modiv Industrial, Inc. (NYSE:MDV) announced a monthly dividend on Friday, November 8th, Wall Street Journal reports. Investors of record on Friday, February 28th will be given a dividend of 0.0975 per share on Tuesday, March 25th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date of this dividend is Friday, February 28th. This is an increase from Modiv Industrial’s previous monthly dividend of $0.10.

Modiv Industrial has a dividend payout ratio of -1,170.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 %

MDV stock opened at $14.73 on Wednesday. Modiv Industrial has a 1-year low of $13.69 and a 1-year high of $18.11. The firm has a market cap of $142.04 million, a PE ratio of -133.86 and a beta of -0.21. The business’s 50-day moving average price is $14.93 and its two-hundred day moving average price is $15.80.

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.