Reven Housing REIT, Inc. (the Company, Reven) (NASDAQ: RVEN), an owner and operator of single-family residential properties, today announced that its Board of Directors has decided to initiate a quarterly distribution on the Companys common stock of $0.01 per share. The initial distribution is payable November 15, 2018 to stockholders of record on October 25, 2018. The distribution represents an annual distribution rate of approximately 1% based on the closing sale price of the Companys common stock on October 9, 2018.
Chad Carpenter, Chief Executive Officer of Reven Housing, stated, We are pleased that the Board of Directors approved the initiation of a quarterly distribution. The distribution represents an important milestone for our Company and allows us to share the continued progress of the Company with our shareholders.
About Reven Housing REIT, Inc.
Reven Housing REIT, Inc. (NASDAQ: RVEN) engages in the acquisition and ownership of portfolios of occupied single-family rental properties in the United States. Reven currently owns and operates 826 single family rental properties in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.
For more information, please visit http://www.revenhousingreit.com/.