Gladstone Land Announces Monthly Cash Distributions for January, February, and March 2018
MCLEAN, Va., Jan. 09, 2018 (GLOBE NEWSWIRE) -- 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 2018.
Monthly Cash Distributions:
Common Stock: $0.04425 per share of common stock for each of January, February, and March 2018, representing a 0.3% increase over the prior quarter, payable per the table below:
| Summary of Common Stock Cash Distributions | |||
| Record Date | Payment Date | Amount | |
| January 22 | January 31 | $ 0.04425 | |
| February 16 | February 28 | 0.04425 | |
| March 20 | March 30 | 0.04425 | |
| Total for the Quarter: | $ 0.13275 | ||
The Company has paid 59 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions nine times over the prior 36 months. The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders; for more information regarding the DRIP, please visit www.GladstoneLand.com.
Series A Preferred Stock (NASDAQ:LANDP): $0.1328125 per share of Series A Preferred Stock for each of January, February, and March 2018, payable per the table below:
|
Summary of Series A Preferred Stock Cash Distributions | |||
| | |||
| Record Date | Payment Date | Amount | |
| January 22 | January 31 | $ 0.1328125 | |
| February 16 | February 28 | 0.1328125 | |
| March 20 | March 30 | 0.1328125 | |
| Total for the Quarter: | $ 0.3984375 | ||
The Company has not skipped, reduced or deferred a monthly Series A 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 73 farms, comprised of 63,014 acres in 9 different states across the U.S., valued at approximately $534 million. Additional information can be found at www.GladstoneLand.com and 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.Gladstone.com.
Source: Gladstone Land Corporation
For further information: Gladstone Land Corporation, +1-703-287-5893
Released January 9, 2018