Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty announced a monthly cash dividend of $0.250 per common share, equating to an annualized dividend of $3.00 per share. This represents a 2.9% increase from the previous year's $2.916 per share. The dividend will be paid on June 14, 2024, to shareholders recorded by May 31, 2024. The company also declared a monthly cash dividend of $0.08854 per depositary share of its 4.25% Series A Cumulative Redeemable Preferred Stock, equal to $1.0625 annually. This payment will be made on June 3, 2024, to shareholders recorded by May 24, 2024.

Positive

• Monthly dividend of $0.250 per common share declared.
• Annualized dividend per common share increased by 2.9% to $3.00.
• Preferred stock dividend of $0.08854 per depositary share declared.
• Consistent dividend payouts indicate stable cash flow.

Negative

• None.

ROYAL OAK, Mich., May 14, 2024 /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 $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the second quarter of 2023. The dividend is payable June 14, 2024 to stockholders of record at the close of business on May 31, 2024.

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 June 3, 2024 to stockholders of record at the close of business on May 24, 2024.

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 March 31, 2024, the Company owned and operated a portfolio of 2,161 properties, located in 49 states and containing approximately 44.9 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 monthly dividend amount declared by Agree Realty?

Agree Realty declared a monthly cash dividend of $0.250 per common share.

What is the annualized dividend announced by Agree Realty for common shares?

The annualized dividend for common shares is $3.00.

How much did Agree Realty increase its annualized dividend for common shares?

Agree Realty increased its annualized dividend for common shares by 2.9%.

When is the dividend payment date for Agree Realty's common shares?

The dividend payment date for Agree Realty's common shares is June 14, 2024.

What is the record date for Agree Realty's common share dividend?

The record date for the common share dividend is May 31, 2024.

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

The dividend amount for Agree Realty's preferred stock is $0.08854 per depositary share.

When will Agree Realty's preferred stock dividend be paid?

The preferred stock dividend will be paid on June 3, 2024.

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

The record date for the preferred stock dividend is May 24, 2024.