Gladstone Land : Announces Increase in Monthly Cash Distributions for January, February, and March 2021
January 13, 2021 at 02:52 am IST
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January 12, 2021
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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Gladstone Land Corporation published this content on 12 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2021 21:21:05 UTC
Gladstone Land Corporation is a real estate investment trust that acquires and owns farmland and farm-related properties located in various agricultural markets in the United States. The Company owns around 168 farms, comprised of 112,000 acres in 15 different states and 46,400 acre-feet of water assets in California. Its farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables. It also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards. Approximately 30% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 20% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities and processing buildings, among others. Its adviser is Gladstone Management Corporation.