MONM Monmouth Capital Corp (MM)

Monmouth Capital Corporation Declares Dividend FREEHOLD, N.J., Jan. 13 /PRNewswire-FirstCall/ -- On January 13, 2005, the Board of Directors of Monmouth Capital Corporation (NASDAQ:MONM) declared a dividend of $0.25 a share, payable June 15, 2005 to shareholders of record May 16, 2005. Eugene W. Landy, President, stated, "MONM hopes to maintain a semi-annual $0.25 dividend in 2005." Mr. Landy also stated that, "Monmouth Capital Corporation is a very small REIT. Management believes MONM must grow to a $100 million asset REIT in order to operate efficiently. MONM is aggressively seeking new real property acquisitions." Monmouth Capital Corporation is currently operating as a hybrid real estate investment trust (REIT), investing in real estate equities, mortgages, mortgage-backed securities and other REIT securities. MONM is part of a family of REITs including United Mobile Homes, Inc. (AMEX:UMH), which invests in manufactured home communities, and Monmouth Real Estate Investment Corporation (NASDAQ:MNRTA), which invests in net-leased industrial properties on long-term leases to investment grade tenants. It is MONM's intention to pursue any real estate opportunities other than the specialized areas of United Mobile Homes, Inc. and Monmouth Real Estate Investment Corporation. DATASOURCE: Monmouth Capital Corporation CONTACT: Rosemarie Faccone, or Susan Jordan of Monmouth Capital Corporation, +1-732-577-9997

Copyright