04:26 PM EST, 03/07/2024 (MT Newswires) -- Montfort Capital Corp. ( MONTF ) , announced Thursday that the company's board of directors has declared a quarterly cash dividend of $0.02 per Series A Class A Preferred Shares, payable on March 28, 2024, to holders of Class A Preferred Shares of record as at March 19, 2024.

Under the company's dividend policy, the annual dividend rate for the Class A Preferred Shares is targeted to be $0.08 per Class A Preferred Share and dividends, if declared, will be payable on the last day of December, March, June and September in each year, or if such day is not a business day, on the next business day, at a quarterly rate of $0.02 per Class A Preferred Share.

The amount and distribution dates of future dividends remain at the discretion of the company's board of directors.

The company's board of directors has also declared a quarterly cash dividend of $0.5520 per Series 1 Class C Preferred Shares, payable on March 28, 2024, to holders of Class C Preferred Shares of record as at March 19, 2024.