MacKenzie Realty Adjusts Dividend Policy

Key developments include a revised dividend rate and a postponed stockholder meeting date.

December 18, 2024

Strategic Updates Reflect Compliance and Governance Focus

MacKenzie Realty Capital, Inc., a Maryland-based Real Estate Investment Trust (REIT), has announced adjustments to its shareholder policies, highlighting its commitment to maintaining financial compliance and investor relations. The company declared a quarterly dividend of $0.05 per share for the quarter ending December 31, 2024. This dividend aligns with its obligation to distribute 90% of taxable income to shareholders as part of its REIT status requirements.

The dividend, slated for payment on or around January 25, 2025, will benefit shareholders of record as of December 31, 2024. The move reflects the board's analysis of the company's 2024 performance, emphasizing its focus on consistent returns to its investors.

Postponement of Special Stockholder Meeting

In addition to the dividend announcement, MacKenzie Realty has postponed its special stockholder meeting from December 18, 2024, to January 6, 2025, at 11 a.m. Pacific Time. This decision allows additional preparation time while ensuring stakeholders are adequately informed about the proceedings. Notably, the agenda and shareholder eligibility criteria remain unchanged, minimizing disruptions to prior planning efforts.

Maintaining Investor Confidence

These developments are part of MacKenzie Realty’s broader strategy to ensure compliance with the legal framework governing REITs while addressing the needs of its investors. The decision to adjust the dividend rate and reschedule the meeting underscores the company’s focus on governance, transparency, and operational alignment with shareholder expectations.

MacKenzie Realty’s leadership has reiterated its commitment to sustaining its position as a reliable investment vehicle within the real estate sector. By proactively managing dividends and ensuring seamless communication with shareholders, the company demonstrates its dedication to balancing financial performance with its legal and fiduciary responsibilities.

As the new year approaches, MacKenzie Realty’s strategic actions aim to reinforce investor confidence and position the company for continued success in the competitive real estate market.