Agree Realty Declares Inaugural Monthly Cash Dividend

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared its inaugural monthly cash dividend of $0.207 per common share, reflecting an annualized amount of $2.484. This represents a 6.2% increase over the previous annualized dividend of $2.340. The dividend is payable on February 12, 2021, to shareholders of record by January 29, 2021. The company, which owns 1,129 properties across 46 states, focuses on acquiring and developing net-leased retail properties.

Positive

• Inaugural monthly dividend of $0.207 per share boosts shareholder income.
• 6.2% increase over the previous annualized dividend reflects company growth and confidence.

Negative

• None.

BLOOMFIELD HILLS, Mich., Jan. 14, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.207 per common share. This represents the Company's inaugural monthly cash dividend. The new monthly dividend reflects an annualized dividend amount of $2.484 per common share, representing a 6.2% increase over the annualized dividend amount of $2.340 per common share from the first quarter of 2020. The dividend is payable February 12, 2021 to shareholders of record at the close of business on January 29, 2021.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants.  As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area.  The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC".  For additional information, please visit www.agreerealty.com.   

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SOURCE Agree Realty Corporation

FAQ

What is the dividend amount declared by Agree Realty Corporation for January 2021?

Agree Realty Corporation declared a monthly cash dividend of $0.207 per common share.

When will the dividend be paid to shareholders?

The dividend will be paid on February 12, 2021.

What was the percentage increase in the dividend compared to last year?

The new dividend represents a 6.2% increase over the annualized dividend of $2.340 from the first quarter of 2020.

What is the record date for the dividend payment?

The record date for the dividend payment is January 29, 2021.