MacKenzie Realty Capital Increases Quarterly Dividend

MacKenzie Realty Capital Inc., a publicly registered non-traded real estate investment trust, has increased its regular quarterly dividend to $0.105 per share for third quarter 2022 distributions.

MacKenzie Realty Capital Inc., a publicly registered non-traded real estate investment trust, has increased its regular quarterly dividend to $0.105 per share for the third quarter of 2022.

The dividend will be paid around Oct.28, 2022, to shareholders of record as of Sept. 30, 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 has received quarterly dividend payments equal to $0.175 per share.

The board also announced a third quarter dividend of $0.375 payable to holders of Series A Preferred shares, payable at a monthly rate of $0.125 per month, as well as a fourth quarter preferred share dividend at the same rate payable monthly per share for holders of record as of Oct. 31, 2022, Nov. 30, 2022, and Dec, 31, 2022, to be paid in January 2023.

In April 2022, MacKenzie Realty Capital entered into a $20.4 million membership interest purchase agreement with The Wiseman Co. LLC to acquire general partner interests in eight limited partnerships and one land parcel.

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.

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