CINCINNATI, Ohio - Mobile Infrastructure Corporation (NYSE American: BEEP), a real estate company with a market capitalization of $126 million and impressive gross profit margins of 63%, announced today that its Board of Directors has approved the payment of monthly dividends for its Series A and Series 1 Preferred Stock. According to InvestingPro analysis, the company appears slightly undervalued at its current trading price of $3.86. The decision was made on January 21, 2025, with the dividends to be distributed on or about February 12, 2025.
Holders of Series A Preferred Stock will receive $4.791 per share, while Series 1 Preferred Stockholders will be paid at a rate of $4.583 per share. The record date for Series A Preferred Stock is January 28, 2025, and for Series 1 Preferred Stock, it is January 24, 2025.
The company emphasized that the continuation of these payments is contingent upon the Board’s judgment, considering the company’s financial health, regulatory requirements, and other relevant factors. The Board retains the discretion to determine the issuance of future dividends based on these considerations.
This dividend declaration reflects the company’s commitment to providing returns to its preferred stockholders and marks an important event for investors. Mobile Infrastructure Corporation, formerly known as Fifth Wall Acquisition Corp. III, is headquartered in Cincinnati, Ohio, and operates within the real estate sector under the SIC code 6500. Despite recent challenges, the company has demonstrated strong revenue growth of 21% in the last twelve months.
In other recent news, Mobile Infrastructure Corp has declared dividends for its preferred stockholders. The Maryland-based real estate company announced dividends on its Series A Preferred Stock at $4.791 per share and its Series 1 Preferred Stock at $4.583 per share. The company’s board, considering the firm’s financial position and other relevant factors, made the decision. InvestingPro data shows the firm’s current ratio at 0.17, suggesting potential liquidity challenges, while noting a robust gross profit margin of 63.23%.
In another development, Mobile Infrastructure Corp secured a $40.4 million credit line from Harvest Small Cap Partners, L.P. and Harvest Small Cap Partners Master, Ltd. This funding aims to facilitate future preferred stock redemptions in cash, cover all accrued dividends on preferred stock, and initiate a common stock repurchase plan.
The company’s board has authorized a $10 million share buyback program, reflecting the commitment to increasing shareholder value. The credit line will bear an interest rate of 15.0% per annum, payable at maturity or upon any principal repayment.
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