Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.217 per common share, marking an 8.5% increase from the previous annualized dividend amount of $2.400. This dividend is payable on October 14, 2021 to stockholders of record as of September 30, 2021. Additionally, a prorated dividend of $0.0413194 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock has been announced, payable on October 1, 2021 for the period from September 17 to October 1, 2021.

Positive

• Monthly cash dividend of $0.217 per common share reflects an 8.5% annual increase.
• Prorated preferred dividend of $0.0413194 on Series A stock shows commitment to shareholder returns.

Negative

• None.

BLOOMFIELD HILLS, Mich., Sept. 17, 2021 /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 $0.217 per common share. The monthly dividend reflects an annualized dividend amount of $2.604 per common share, representing an 8.5% increase over the annualized dividend amount of $2.400 per common share from the third quarter of 2020. The common dividend is payable October 14, 2021 to stockholders of record at the close of business on September 30, 2021.  

Additionally, the Company's Board of Directors has authorized, and the Company has declared, a prorated monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.0413194 per depositary share. The inaugural preferred dividend payment is for less than a full month and covers the period from, and including, September 17, 2021 to, but excluding, October 1, 2021. The dividend is payable October 1, 2021 to stockholders of record at the close of business on September 27, 2021.                                                                                                                    

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, 2021, the Company owned and operated a portfolio of 1,262 properties, located in 46 states and containing approximately 26.1 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 new monthly dividend for Agree Realty Corporation (ADC)?

The new monthly dividend for Agree Realty Corporation is $0.217 per common share.

When will the common dividend be paid for ADC?

The common dividend will be paid on October 14, 2021.

What is the annualized dividend amount for ADC after the increase?

The annualized dividend amount for ADC after the increase is $2.604 per common share.

What is the payment date for the preferred dividend for ADC?

The preferred dividend payment date is October 1, 2021.

What is the amount of the preferred dividend declared by ADC?

The preferred dividend amount declared is $0.0413194 per depositary share.