Agree Realty Declares Increased Quarterly Cash Dividend & Provides November Rent Collections Update

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a quarterly cash dividend of $0.620 per share, marking a 3.3% increase from the last quarter and a 6.0% rise compared to Q4 2019. The dividend will be paid on January 6, 2021, to shareholders recorded by December 23, 2020. Additionally, the company reported receiving 99% of its November rent payments, continuing a trend over the past three months.

Positive

• Quarterly cash dividend increased to $0.620 per share.
• 107th consecutive cash dividend declared.
• 99% of November rent payments collected.

Negative

• None.

BLOOMFIELD HILLS, Mich., Dec. 1, 2020 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today declared an increased quarterly cash dividend and provided an update on November rent collections.

Fourth Quarter 2020 Dividend

The Board of Directors has authorized, and the Company has declared, a quarterly cash dividend of $0.620 per common share. This is the Company's 107^th consecutive cash dividend and represents a 3.3% increase over the previous quarterly dividend and a 6.0% increase over the quarterly dividend declared in the fourth quarter of 2019. The dividend is payable January 6, 2021 to shareholders of record at the close of business on December 23, 2020.   

November Rent Collections Update

As of November 30, 2020, the Company has received November rent payments from 99% of its portfolio and entered into deferral agreements with tenants representing less than 1% of November rents. November marks the third consecutive month the Company has received 99% of all contractual monthly rental obligations.

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 September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 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 Q4 2020?

The dividend amount declared is $0.620 per share.

When is the dividend for Agree Realty Corporation payable?

The dividend is payable on January 6, 2021.

What percentage of November rent has Agree Realty Corporation collected?

Agree Realty Corporation has collected 99% of November rent.

What date is the record for shareholders for the upcoming dividend?

The record date for shareholders is December 23, 2020.