FREEHOLD, N.J., July 1, 2016 /PRNewswire/ -- On July 1, 2016, the Board of Directors of UMH Properties, Inc. (NYSE: UMH) declared its quarterly cash dividend on the Company's Common Stock of $0.18 per share payable September 15, 2016, to shareholders of record at the close of business on August 15, 2016. The Company's annual dividend rate on its Common Stock is $0.72 per share.
Also, on July 1, 2016, the Board of Directors declared a quarterly dividend of $0.515625 per share for the period from June 1, 2016 through August 31, 2016, on the Company's 8.25% Series A Cumulative Redeemable Preferred Stock payable September 15, 2016, to shareholders of record at the close of business on August 15, 2016. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $2.0625 per share.
In addition, on July 1, 2016, the Board of Directors declared a quarterly dividend of $0.50 for the period from June 1, 2016 through August 31, 2016, on the Company's 8.0% Series B Cumulative Redeemable Preferred Stock payable September 15, 2016, to shareholders of record at the close of business on August 15, 2016. Series B preferred share dividends are cumulative and payable quarterly at an annual rate of $2.00 per share.
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates ninety-eight manufactured home communities containing approximately 17,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. In addition, the Company owns a portfolio of REIT securities.
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SOURCE UMH Properties, Inc.