Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.240 per common share, marking a 5.7% increase from the previous year's annualized amount of $2.724. This results in an annualized dividend of $2.880. The dividend is scheduled for payment on February 14, 2023 to shareholders of record by January 31, 2023. Additionally, a monthly dividend of $0.08854 per preferred share will be payable on February 1, 2023 to shareholders of record by January 23, 2023.

Positive

• Monthly common dividend increased to $0.240 per share, a 5.7% rise from last year.
• Annualized common dividend now $2.880 per share, reflecting strong shareholder income.

Negative

• None.

BLOOMFIELD HILLS, Mich., Jan. 12, 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 $0.240 per common share. The monthly dividend reflects an annualized dividend amount of $2.880 per common share, representing a 5.7% increase over the annualized dividend amount of $2.724 per common share from the first quarter of 2022. The dividend is payable February 14, 2023 to stockholders of record at the close of business on January 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 February 1, 2023 to stockholders of record at the close of business on January 23, 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 December 31, 2022, the Company owned and operated a portfolio of 1,839 properties, located in all 48 continental states and containing approximately 38.1 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 for Agree Realty Corporation (ADC) in January 2023?

Agree Realty Corporation declared a monthly cash dividend of $0.240 per common share in January 2023.

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

The dividend for common shares is payable on February 14, 2023.

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

The annualized dividend for ADC's common shares is $2.880.

What is the preferred dividend amount declared by ADC?

The preferred dividend amount declared by ADC is $0.08854 per depositary share.

When will the preferred dividend for ADC be paid?

The preferred dividend is payable on February 1, 2023.