American Realty Capital Properties (ARCP) (NASDAQ: ARCP) revealed its annualized common stock dividend on Friday. The REIT’s board of directors previously approved $1.00 per share per annum of common stock to be paid monthly to shareholders of record at the close of business on the 8th day of each month and payable on the 15th day of the same month.
Accordingly, stockholders of record as of October 8, 2014 will be paid a distribution of $0.0833333 per share on October 15, 2014.
Holders of ARCP’s 6.70% Series F Cumulative Redeemable Preferred Stock, which has a par value $0.01 per share, will also receive a monthly dividend. The payment will be made on October 15, 2014 for the period from September 15, 2014 through October 14, 2014.
On October 1, 2014, Series F Preferred stockholders will be eligible for the dividend, which accrues daily on a 360-day annual basis that equates to an annualized dividend rate of $1.675 per share, or a rate of $0.1395833 per 30-day month.
ARCP is a listed REIT and also sponsors non-traded REITs through Cole Capital, its wholly owned private capital management business and direct investment wholesale broker dealer.
ARCP specializes in single-tenant commercial properties that are subject to net leases. The REIT manages nearly $30 billion worth of real estate located throughout 49 states, in addition to Washington D.C., Puerto Rico, and Canada