Presidio Property Trust declared a fourth-quarter cash dividend of 6 cents per share of series A common stock.
The diversified real estate investment trust said the dividend is payable Jan. 18, 2019, to stockholders of record Dec. 28.
The previous quarterly dividend was 10 cents per share. The company's board recently voted to suspend Presidio's dividend reinvestment plan and pay all subsequent dividends in cash.
The REIT also sold an industrial property in San Diego County, Calif., and used most of the net proceeds from the sale to redeem and retire 13,800 shares of series B preferred stock. After the early redemption, Presidio had 16,900 preferred shares outstanding.