Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty (NYSE: ADC) has declared a monthly cash dividend of $0.250 per common share, translating to an annualized dividend of $3.00 per common share. This marks a 2.9% increase from the previous annualized dividend of $2.916 per common share for the third quarter of 2023. The dividend is payable on August 14, 2024, to shareholders of record as of July 31, 2024.

Additionally, the company declared a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, or $1.0625 annually, payable on August 1, 2024, to shareholders of record as of July 22, 2024.

Positive

• Monthly dividend increase to $0.250 per common share, annualized to $3.00.
• 2.9% increase in annualized dividend compared to Q3 2023.
• Monthly dividend on Series A Preferred Stock set at $0.08854 per depositary share, annualized to $1.0625.

Negative

• None.

ROYAL OAK, Mich., July 11, 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 third quarter of 2023. The dividend is payable August 14, 2024 to stockholders of record at the close of business on July 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 August 1, 2024 to stockholders of record at the close of business on July 22, 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 new monthly dividend for Agree Realty (ADC) common shares?

The new monthly dividend for Agree Realty (ADC) common shares is $0.250 per share.

When is the dividend for Agree Realty (ADC) common shares payable?

The dividend for Agree Realty (ADC) common shares is payable on August 14, 2024.

What is the annualized dividend for Agree Realty (ADC) common shares?

The annualized dividend for Agree Realty (ADC) common shares is $3.00.

By how much has Agree Realty (ADC) increased its annualized dividend for common shares?

Agree Realty (ADC) has increased its annualized dividend for common shares by 2.9%.

What is the dividend for Agree Realty (ADC) Series A Preferred Stock?

The monthly dividend for Agree Realty (ADC) Series A Preferred Stock is $0.08854 per depositary share.

When will the dividend for Agree Realty (ADC) Series A Preferred Stock be paid?

The dividend for Agree Realty (ADC) Series A Preferred Stock will be paid on August 1, 2024.

What is the annualized dividend for Agree Realty (ADC) Series A Preferred Stock?

The annualized dividend for Agree Realty (ADC) Series A Preferred Stock is $1.0625 per depositary share.