Agree Realty Declares Increased Monthly Common Dividend

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, a 4.6% increase compared to the previous amount. This annualizes to $2.724, marking a 9.8% rise from last year. The dividend is scheduled to be paid on November 12, 2021, to shareholders recorded by October 29, 2021. Additionally, the Company announced a dividend of $0.08854 on its 4.25% Series A Preferred Stock, payable on November 1, 2021, to shareholders of record by October 25, 2021.

Positive

• Monthly common dividend increased by 4.6%.
• Annualized common dividend now $2.724, up 9.8% year-over-year.
• Company maintains strong portfolio with 1,262 properties across 46 states.

Negative

• None.

BLOOMFIELD HILLS, Mich., Oct. 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 $0.227 per common share, representing a 4.6% increase over the previous monthly dividend. The monthly dividend reflects an annualized dividend amount of $2.724 per common share, or a 9.8% increase over the annualized dividend amount of $2.480 per common share from the fourth quarter of 2020. The dividend is payable November 12, 2021 to stockholders of record at the close of business on October 29, 2021.  

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, 2021 to stockholders of record at the close of business on October 25, 2021.                   

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, 2021, the Company owned and operated a portfolio of 1,262 properties, located in 46 states and containing approximately 26.1 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 common dividend amount declared by Agree Realty Corporation?

Agree Realty Corporation has declared a common dividend of $0.227 per share.

When will the common dividend be paid to shareholders?

The common dividend will be paid on November 12, 2021.

What is the annualized amount of the common dividend for Agree Realty Corporation?

The annualized common dividend amount is $2.724 per share.

What is the dividend amount for Agree Realty's Series A Preferred Stock?

The dividend for the Series A Preferred Stock is $0.08854 per depositary share.

When is the payment date for the Series A Preferred Stock dividend?

The payment date for the Series A Preferred Stock dividend is November 1, 2021.