Agree Realty Declares Monthly Common and Preferred Dividends

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Agree Realty Corporation (NYSE: ADC) announces 3.8% increase in annualized dividend, with monthly cash dividend of $0.243 per common share and $0.08854 per depositary share. Board of Directors authorizes and declares dividends payable in September 2023.

ROYAL OAK, Mich., Aug. 10, 2023 /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 $0.243 per common share. The monthly dividend reflects an annualized dividend amount of $2.916 per common share, representing a 3.8% increase over the annualized dividend amount of $2.808 per common share from the third quarter of 2022. The dividend is payable September 14, 2023 to stockholders of record at the close of business on August 31, 2023.

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 September 1, 2023 to stockholders of record at the close of business on August 21, 2023.

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, 2023, the Company owned and operated a portfolio of 2,004 properties, located in 49 states and containing approximately 41.7 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 on the Company and RETHINKING RETAIL, please visit www.agreerealty.com.

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SOURCE Agree Realty Corporation

FAQ

What is the dividend amount per common share for Agree Realty Corporation (NYSE: ADC)?

The dividend amount per common share is $0.243, reflecting an annualized dividend amount of $2.916.

When is the dividend payable for Agree Realty Corporation (NYSE: ADC)?

The dividend for common shares is payable on September 14, 2023, and for depositary shares on September 1, 2023.

What is the annualized dividend amount increase percentage for Agree Realty Corporation (NYSE: ADC)?

The annualized dividend amount has increased by 3.8% over the previous year.

What is the dividend amount per depositary share for Agree Realty Corporation (NYSE: ADC)?

The dividend amount per depositary share is $0.08854, which is equivalent to $1.0625 per annum.