8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     Date of Report (Date of earliest event reported)              October 3, 2006

MONMOUTH CAPITAL CORPORATION     

 (Exact name of Registrant as specified in its charter)

       New Jersey                     

   000-24282                   21-0740878

   (State or other jurisdiction   

(Commission

       (IRS Employer

     of incorporation)              

File Number)    Identification Number)

       3499 Route 9N, Suite 3C, Freehold, NJ  

07728

     (Address of principal executive offices)

(Zip Code)

     Registrant's telephone number, including area code         (732) 577-9993

     (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

[  ] Written communications pursuant to Rule 425 under Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 142-12 under the Exchange Act (17 CFR 240.14a-12

[  ] Pre-commencement communications pursuant to rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01     Regulation FD Disclosure.

On October 3, 2006, the Company issued a press release announcing the declaration of the semi-annual dividend.

 Item 9.01   Financial Statements and Exhibits.

(c)   Exhibits.

99

Press Release dated October 3, 2006.

Page 2

SIGNATURES

     Pursuant  to the requirements of the Securities Exchange Act of  1934,

     the  Registrant has duly caused this report to be signed on its behalf

     by the undersigned hereunto duly authorized.

                                MONMOUTH CAPITAL CORPORATION

                                /s/   Anna T. Chew

                                ANNA T. CHEW

                                Chief Financial Officer

     Date        October 3, 2006

Page 3

EX-99

FOR IMMEDIATE RELEASE

October 3, 2006

Contact:  Rosemarie Faccone

     Susan Jordan

     732-577-9997

MONMOUTH CAPITAL CORPORATION DECLARES DIVIDEND

FREEHOLD, NJ, October 3, 2006…..On October 3, 2006, the Board of Directors of Monmouth Capital Corporation (NASDAQ: MONM) declared a dividend of $0.25 a share, payable December 15, 2006 to shareholders of record November 15, 2006. Future dividend policy will depend on the Company’s earnings, capital requirements, financial condition, availability and cost of bank financing, and other factors considered relevant by the Board of Directors.

Eugene W. Landy, President, stated, “No decision has been made on the dividend for 2007.  Management is pleased with the performance of properties owned.  The cost of running a public company and the inefficiencies of Monmouth Capital Corporation’s relatively small size remain problems.  Management is reassessing its business plan in light of the difficulty of finding new real property investments and the higher percentage of property income that is consumed by corporate overhead.”

Monmouth Capital Corporation is currently operating as a hybrid real estate investment trust (REIT), investing in real estate equities, mortgages, mortgage-backed securities and other REIT securities.

MONM is part of a family of REITs including UMH Properties, Inc. (AMEX:UMH), which invests in manufactured home communities, and Monmouth Real Estate Investment Corporation (NASDAQ:MNRTA), which invests in net-leased industrial properties on long-term leases to investment grade tenants.  It is MONM’s intention to pursue any real estate opportunities other than the specialized areas of UMH Properties, Inc. and Monmouth Real Estate Investment Corporation.

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