Attached files
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| EX-99.1 - LETTER TO STOCKHOLDERS - MacKenzie Realty Capital, Inc. | mrcletter123118.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported)
January 24, 2019
MACKENZIE REALTY CAPITAL INC.
(Exact name of registrant as specified in its charter)
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Maryland
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000-55006
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45-4355424
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(State of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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89 Davis Road, Suite 100
Orinda,
California
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94563
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(Address of principal executive offices)
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(Zip Code)
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(925) 631-9100
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation FD Disclosure.
On January 24, 2019, MacKenzie Realty Capital, Inc., mailed a letter to stockholders accompanying the Fourth Calendar Quarter 2018 regular
and special dividend.
The full text of the letter is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
The information in this Current Report is furnished pursuant to Item 7 and shall not be deemed to be “filed” for the purpose of Section 18 of
the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This information will not be deemed an admission as to the materiality of any information contained herein that is required to be disclosed solely by
Regulation FD.
Item 8.01 Other Events.
Fourth Calendar Quarter 2018 Dividend
The board of directors (the “Board”) of MacKenzie Realty Capital, Inc. (the “Company”) previously declared a dividend for the Fourth Calendar
Quarter 2018 at the regular 7% annual rate of $0.175 per quarter or a monthly dividend of $0.0583. On December 28, 2018, the Board also declared a special dividend for all stockholders of record as of December 31, 2018, equal to an additional
3.125¢ per share, primarily due to sale of the property owned through the two Weatherly Building investments. The dividends will be paid on or about January 23, 2019, in cash or reinvested in stock for those participating in the Company’s dividend
reinvestment plan. The Board anticipates making future declared dividends, if any, on a similar schedule, approximately 30 days after the close of the previous quarter. The Board determined that the Company had sufficient income from the quarter
ended December 31, 2018, to support the regular quarterly dividend to Stockholders at the annualized rate of 7%, plus the additional special dividend, without distributing any original capital.
First Calendar Quarter 2019 Dividend
The board of directors (the “Board”) of MacKenzie Realty Capital, Inc. (the “Company”) declared a monthly dividend of $0.0583 per Share for the
quarter ending March 31, 2019, payable on or about the quarterly payment date of April 30, 2019, to record holders as of January 31, 2019, February 28, 2019, and March 31, 2019. This is the Company’s regular quarterly dividend of 17.5¢ per share,
at the annual rate of 7% based upon the sale price of $10 per Share. The dividends will be paid in cash or reinvested in stock for those participating in the Company’s dividend reinvestment plan. The Board anticipates making future declared
dividends, if any, on a similar schedule, approximately 30 days after the close of the previous fiscal quarter. The Board anticipates that the Company will have sufficient income from the quarter ended March 31, 2019, to support the regular
quarterly dividend to Stockholders at the annualized rate of 7%, without distributing any original capital.
Statements in this Current Report on Form 8-K, including intentions, beliefs, expectations or projections relating to items such as the timing
of payment of dividends are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on current
expectations and assumptions with respect to, among other things, future economic, competitive and market conditions and future business decisions that may prove incorrect or inaccurate. Important factors that could cause actual results to differ
materially from those in the forward-looking statements include the risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended June 30, 2018, as amended, and its other filings with the Securities
and Exchange Commission.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit Number
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Description
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99.1
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Letter to stockholders regarding tax treatment of dividends and 4th quarter 2018 dividend
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
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MACKENZIE REALTY
CAPITAL, INC.
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(Registrant)
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Date: January 24, 2019
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By:
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/s/ Robert Dixon
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Robert Dixon
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President
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