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MacKenzie Realty Capital Continues to Increase Quarterly Dividend After Pandemic

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MacKenzie Realty Capital Inc., a publicly registered non-traded real estate investment trust, announced an increase in its regular quarterly dividend, now at the rate of $0.115 per share.

As The DI Wire previously reported, MacKenzie also increased its regular quarterly dividend to $0.11 per share in January 2022 and $0.105 per share for the third quarter of 2022. After suspending regular quarterly dividends after the first quarter of 2020 due to the COVID-19 pandemic, MacKenzie resumed payments in the first quarter of 2021 at $0.05 per share. Quarterly dividend payments were then incrementally raised by $0.01 per quarter until they reached $0.09 in the first quarter of 2022. Prior to the onset of the pandemic, MacKenzie stockholders received quarterly dividend payments equal to $0.175 per share.

MacKenzie says the dividend will be payable to shareholders of record as of March 31, 2023, and will be paid on or around April 28, 2023.

The board also announced a preferred share dividend of $0.125 per share for April 30, 2023, May 31, 2023, and June 30, 2023, to be paid in July 2023.

The company also announced the sale of a $46.75 million property in January 2023.

MacKenzie Realty Capital has launched a series of offerings since 2014. The latest, a Regulation A offering of up to $50 million shares of Series A preferred stock, began in November 2021. The company’s current portfolio includes interests in four multifamily properties and 10 office properties in three states.

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