RICHMOND, Va., April 12, 2023–(BUSINESS WIRE)–Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the “Company” or “Medalist”), a Virginia-based real estate investment trust that specializes in acquiring, owning and managing commercial real estate in the Southeast region of the U.S., announced today that its Board of Directors declared a quarterly cash dividend of $0.01 per share on the Company’s common stock (the “Common Stock Dividend”). The Common Stock Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.

The Board of Directors also declared a dividend of $0.50 per share on the Company’s 8.0% Series A Cumulative Redeemable Preferred Stock (the “Series A Dividend”). The Series A Dividend is payable in cash on April 28, 2023, to holders of record as of April 25, 2023.