STOCKHOLDER DIVIDENDS

12 Months Ended

Jun. 30, 2023

NOTE 14 – STOCKHOLDER DIVIDENDS

On March 31, 2020, after assessing the impacts of the COVID-19 pandemic, our Board of Directors unanimously approved the suspension of regular quarterly dividends to our stockholders. On May 10, 2021, the Board of Directors resumed the quarterly dividends after reassessing our cash flow.

The following table reflects the dividends per share that we have declared on our common stock and preferred stock during the year ended June 30, 2023:

	Dividends
	Common Stock						Preferred Stock
During the Quarter Ended	Per Share			Amount			Per Share			Amount
September 30, 2022		$	0.105		$	1,390,290		$	0.375		$	87,884
December 31, 2022			0.110			1,456,391			0.375			155,909
March 31, 2023			0.115			1,520,985			0.375			209,620
June 30, 2023			0.120			1,586,864			0.375			242,188
		$	0.450		$	5,954,530		$	1.500		$	695,601

During the year ended June 30, 2023, we paid common dividends of $5,691,554, of which $1,638,739 have been reinvested under our DRIP. During the year ended June 30, 2023, we paid preferred dividends of $491,410, of which $75,379 have been reinvested under our DRIP. Preferred and common dividends declared during the year ended June 30, 2023 were paid in July 2023.

The following table reflects the distributions declared by the Operating Partnership for the Class A and Preferred unit holders during the year ended June 30, 2023:

	Dividends
	Class A Units						Preferred Units
During the Quarter Ended	Per Share			Amount			Per Share			Amount
September 30, 2022		$	0.105		$	9,403		$	0.375		$	107,626
December 31, 2022			0.110			9,851			0.375			122,884
March 31, 2023			0.115			10,299			0.375			177,222
June 30, 2023			0.120			10,229			0.375			177,589
		$	0.450		$	39,782		$	1.500		$	585,321

The following table reflects the dividends per share that we have declared on our common stock and preferred stock during the year ended June 30, 2022:

	Dividends
	Common stock							Preferred stock
During the Quarter Ended	Per Share				Amount			Per Share			Amount
September 30, 2021		$	0.130	*		$	1,731,482		$	-		$	-
December 31, 2021			0.080				1,068,612			0.125			440
March 31, 2022			0.090				1,193,841			0.375			18,507
June 30, 2022			0.100				1,323,888			0.375			37,982
		$	0.400			$	5,317,823		$	0.875		$	56,929

* $0.06 per share of dividend for the quarter ended June 30, 2021 was declared subsequently in July 2021; therefore, it is included in the dividend declared during the quarter ended September 30, 2021.

During the year ended June 30, 2022, we paid total dividends of $4,012,882 of which $1,188,456 has been reinvested under our DRIP. Dividends declared during the quarter ended June 30, 2022, were paid on July 29, 2022.

Total distributions declared by the Operating Partnership for the Class A unit holders during the year ended June 30, 2022, was $9,985 (which was $0.40 per unit), of which $723 ($0.06 per unit) was related to dividend declared for the quarter ended June 30, 2021.

Total distributions declared by the Operating Partnership for the preferred unit holders during the year ended June 30, 2022 was $51,667 (which was 0.25 per unit).

On July 14, 2023, we declared the Series A Preferred stock quarterly dividend of $0.375 per share payable at the rate of $0.125 per month for holders of record as of July 31, 2023, August 31, 2023, and September 30, 2023. Subsequently, on September 18, 2023, we declared the Series A Preferred stock quarterly dividend of $0.375 per share payable at the rate of $0.125 per month for holders of record as of October 31, 2023, November 30, 2023, and December 31, 2023. The preferred stock dividend declared on July 14, 2023, will be paid on or about October 15, 2023, and the preferred stock dividend declared on September 18, 2023, will be paid on or about January 15, 2024.

On September 18, 2023, we also declared the common stock quarterly dividend of $0.125 per share for the quarter ended September 30, 2023. The common stock dividend declared on September 18, 2023 will be paid on or about October 30, 2023, to record holders as of September 30, 2023.