Agree Realty Declares Increased Monthly Common Dividend

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has announced a monthly cash dividend of $0.234 per common share, marking a 3.1% increase from the previous month. This reflects an annualized amount of $2.808, which is a 7.8% increase over last year. The dividend is payable on May 13, 2022, to stockholders recorded by April 29, 2022. Additionally, a dividend of $0.08854 per preferred share will be paid on May 2, 2022.

Positive

• Monthly dividend increased by 3.1% month-over-month.
• Annualized dividend up by 7.8% year-over-year.

Negative

• None.

Increase Results in 3.1% Month-Over-Month Growth and 7.8% Year-Over-Year Growth

BLOOMFIELD HILLS, Mich., April 12, 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 $0.234 per common share, representing a 3.1% increase over the previous monthly dividend. The monthly dividend reflects an annualized dividend amount of $2.808 per common share, or a 7.8% increase over the annualized dividend amount of $2.604 per common share from the second quarter of 2021. The dividend is payable May 13, 2022 to stockholders of record at the close of business on April 29, 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 May 2, 2022 to stockholders of record at the close of business on April 22, 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 December 31, 2021, the Company owned and operated a portfolio of 1,404 properties, located in 47 states and containing approximately 29.1 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.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/agree-realty-declares-increased-monthly-common-dividend-301524241.html

SOURCE Agree Realty Corporation

FAQ

What is the new monthly dividend for ADC?

The new monthly dividend for Agree Realty Corporation (ADC) is $0.234 per common share.

When will the dividend be paid for ADC?

The dividend will be paid on May 13, 2022.

What was the previous monthly dividend for ADC?

The previous monthly dividend was $0.227 per common share.

How does the new dividend compare to last year for ADC?

The new annualized dividend of $2.808 represents a 7.8% increase over last year's amount.

What is the dividend for preferred shares of ADC?

The monthly dividend for the 4.25% Series A Cumulative Redeemable Preferred Stock is $0.08854 per depositary share.