Gladstone Land Announces Increase in Monthly Cash Distributions for January, February, and March 2021
MCLEAN, VA / ACCESSWIRE / January 12, 2021 / Gladstone Land Corporation (Nasdaq:LAND) (“Gladstone Land” or the “Company”) announced today that its board of directors declared the following cash distributions for each of January, February, and March 2021.
Monthly Cash Distributions:
Common Stock: $0.04495 per share of common stock for each of January, February, and March 2021, payable per the table below:
Summary of Common Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
January 22 |
January 29 |
$ 0.04495 |
|
February 17 |
February 26 |
0.04495 |
|
March 18 |
March 31 |
0.04495 |
|
Total for the Quarter: |
$ 0.13485 |
|
The Company has paid 95 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 21 times over the prior 24 quarters. The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneFarms.com.
Series A Preferred Stock (Nasdaq: LANDP): $0.1328125 per share of Series A Preferred Stock for January 2021, payable per the table below:
Summary of Series A Preferred Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
January 22 |
January 29 |
$ 0.1328125 |
|
Total for the Quarter: |
$ 0.1328125 |
|
As a result of the previously announced conditional optional redemption of all of the outstanding shares of Series A Preferred Stock, which is currently expected to occur on February 12, 2021, the Company did not declare any subsequent dividends on the Series A Preferred Stock. The Company has not skipped, reduced, or deferred a monthly Series A Preferred Stock distribution to date.
Series B Preferred Stock (Nasdaq:LANDO): $0.125 per share of Series B Preferred Stock for each of January, February and March 2021, payable per the table below:
Summary of Series B Preferred Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
January 27 |
February 5 |
$ 0.125 |
|
February 24 |
March 5 |
0.125 |
|
March 24 |
April 5 |
0.125 |
|
Total for the Quarter: |
$ 0.375 |
|
The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.
Series C Preferred Stock (Unlisted): $0.125 per share of Series C Preferred Stock for each of January, February and March 2021, payable per the table below:
Summary of Series C Preferred Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
January 27 |
February 5 |
$ 0.125 |
|
February 24 |
March 5 |
0.125 |
|
March 24 |
April 5 |
0.125 |
|
Total for the Quarter: |
$ 0.375 |
|
The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.
About Gladstone Land:
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the U.S., which it leases to farmers. The Company currently owns 137 farms, comprised of approximately 101,000 acres in 13 different states across the U.S., valued at approximately $1.2 billion. Additional information can be found at www.GladstoneFarms.com.
For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.
For further information: Gladstone Land Corporation, +1-703-287-5893
SOURCE: Gladstone Land Corporation
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