Agree Realty Declares Increased Monthly Common Dividend

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Agree Realty (ADC) reports a 2.9% year-over-year growth with an annualized dividend of $3.00 per share. The Board of Directors authorizes a monthly cash dividend of $0.250 per common share, marking a 1.2% increase from the previous month. The Company also declares a monthly cash dividend for its Series A Cumulative Redeemable Preferred Stock.

Increase Results in 2.9% Year-Over-Year Growth and Annualized Dividend of $3.00 Per Share

ROYAL OAK, Mich., April 8, 2024 /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 $0.250 per common share, representing a 1.2% month-over-month increase. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the second quarter of 2023. The dividend is payable May 14, 2024 to stockholders of record at the close of business on April 30, 2024.

Additionally, the Company's Board of Directors has authorized, and the Company has declared, a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, which is equivalent to $1.0625 per annum. The dividend is payable May 1, 2024 to stockholders of record at the close of business on April 19, 2024.

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 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 on the Company and RETHINKING RETAIL, please visit www.agreerealty.com.

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SOURCE AGREE REALTY CORPORATION

FAQ

What is the annualized dividend amount per common share for Agree Realty (ADC)?

The annualized dividend amount per common share for ADC is $3.00.

What is the monthly cash dividend amount per common share authorized by Agree Realty (ADC)?

ADC has authorized a monthly cash dividend of $0.250 per common share.

What is the percentage increase in the annualized dividend amount for Agree Realty (ADC) compared to the second quarter of 2023?

ADC reports a 2.9% increase in the annualized dividend amount compared to the second quarter of 2023.

When is the monthly dividend payable to stockholders for Agree Realty (ADC)?

The monthly dividend is payable on May 14, 2024, to stockholders of record as of April 30, 2024.

What is the monthly cash dividend amount for Agree Realty 's Series A Cumulative Redeemable Preferred Stock?

Agree Realty has declared a monthly cash dividend of $0.08854 per depositary share for its Series A Cumulative Redeemable Preferred Stock.

When is the dividend payable to stockholders for Agree Realty 's Series A Cumulative Redeemable Preferred Stock?

The dividend for the Series A Cumulative Redeemable Preferred Stock is payable on May 1, 2024, to stockholders of record as of April 19, 2024.