Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, effective October 14, 2022, reflecting a 7.8% increase from last year. The annualized amount rises to $2.808 per share. Additionally, a monthly cash dividend of $0.08854 per preferred share is declared, payable October 3, 2022. The company operates 1,607 properties across the U.S., emphasizing its strategy of net leasing to leading retail tenants.

Positive

• Monthly cash dividend increased by 7.8%.
• Company maintains strong property portfolio with 1,607 locations.

Negative

• None.

BLOOMFIELD HILLS, Mich., Sept. 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 $0.234 per common share. The monthly dividend reflects an annualized dividend amount of $2.808 per common share, representing a 7.8% increase over the annualized dividend amount of $2.604 per common share from the third quarter of 2021. The dividend is payable October 14, 2022 to stockholders of record at the close of business on September 30, 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 October 3, 2022 to stockholders of record at the close of business on September 23, 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 amount for common shares?

Agree Realty Corporation has declared a common dividend of $0.234 per share.

When will the common dividend be paid by ADC?

The common dividend will be paid on October 14, 2022.

What is the annualized dividend amount for ADC's common shares?

The annualized dividend amount for common shares is $2.808.

What is the dividend for Agree Realty's preferred stock?

The preferred stock dividend is $0.08854 per depositary share.

When is the preferred stock dividend payable?

The preferred stock dividend is payable on October 3, 2022.