Agree Realty Declares Monthly Cash Dividend

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.207 per common share, reflecting an annualized amount of $2.484, which marks a 6.2% increase from the previous year. This dividend is payable on March 12, 2021 to stockholders on record as of February 26, 2021. As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties across 46 states, totaling approximately 22.7 million square feet of gross leasable area.

Positive

• Monthly dividend of $0.207 per share, reflecting confidence in cash flow.
• 6.2% increase in annualized dividend amount compared to 2020.

Negative

• None.

BLOOMFIELD HILLS, Mich., Feb. 11, 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 $0.207 per common share. The monthly dividend reflects an annualized dividend amount of $2.484 per common share, representing a 6.2% increase over the annualized dividend amount of $2.340 per common share from the first quarter of 2020. The dividend is payable March 12, 2021 to stockholders of record at the close of business on February 26, 2021.

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 December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 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 ADC for March 2021?

Agree Realty Corporation declared a monthly cash dividend of $0.207 per common share.

When is the dividend payable for ADC?

The dividend is payable on March 12, 2021.

What was the annualized dividend amount for ADC before the increase?

The previous annualized dividend amount was $2.340 per common share.

What was the percentage increase in the annualized dividend for ADC?

The annualized dividend increased by 6.2%.

How many properties does Agree Realty Corporation own?

As of December 31, 2020, Agree Realty Corporation owned 1,129 properties.