Agree Realty Declares Increased Monthly Common Dividend

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.240 per common share, a 2.6% increase from the previous month. This translates to an annualized dividend of $2.880 per common share, reflecting a 5.7% rise over the previous year. The dividend is payable on November 14, 2022, to stockholders of record by October 31, 2022. Additionally, a dividend of $0.08854 per share has been authorized for the 4.25% Series A Cumulative Redeemable Preferred Stock, payable November 1, 2022, to stockholders of record by October 24, 2022.

Positive

• Monthly dividend increased by 2.6% to $0.240 per share.
• Annualized dividend amount raised by 5.7% to $2.880 per share.

Negative

• None.

Increase Results in 2.6% Month-Over-Month Growth and 5.7% Year-Over-Year Growth

BLOOMFIELD HILLS, Mich., Oct. 13, 2022 /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 $0.240 per common share, representing a 2.6% increase over the previous monthly dividend. The monthly dividend reflects an annualized dividend amount of $2.880 per common share, representing a 5.7% increase over the annualized dividend amount of $2.724 per common share from the fourth quarter of 2021. The dividend is payable November 14, 2022 to stockholders of record at the close of business on October 31, 2022.

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 November 1, 2022 to stockholders of record at the close of business on October 24, 2022.

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 June 30, 2022, the Company owned and operated a portfolio of 1,607 properties, located in all 48 continental states and containing approximately 33.8 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 Agree Realty Corporation's dividend for October 2022?

Agree Realty Corporation has declared a monthly cash dividend of $0.240 per common share for October 2022.

When will the dividend be paid to shareholders?

The dividend will be payable on November 14, 2022, to stockholders of record on October 31, 2022.

What is the annualized dividend for Agree Realty Corporation?

The annualized dividend for Agree Realty Corporation is $2.880 per common share, representing a 5.7% increase from the previous year.

What other dividends were declared by Agree Realty Corporation?

The company has also declared a dividend of $0.08854 per share on its 4.25% Series A Cumulative Redeemable Preferred Stock, payable on November 1, 2022.