Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.227 per common share, reflecting an annualized increase of 9.7% from last year, payable on April 14, 2022. This raises the annualized dividend to $2.724. Additionally, a dividend of $0.08854 per preferred share will be distributed on April 1, 2022. As of December 31, 2021, ADC owned 1,404 properties across the U.S., totaling 29.1 million square feet.

Positive

• Monthly cash dividend increased by 9.7%, indicating strong financial performance.
• Annualized dividend now at $2.724 per common share, enhancing shareholder returns.
• Consistent dividend payment demonstrating company confidence in future earnings.

Negative

• None.

BLOOMFIELD HILLS, Mich., March 14, 2022 /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 $0.227 per common share. The monthly dividend reflects an annualized dividend amount of $2.724 per common share, representing a 9.7% increase over the annualized dividend amount of $2.484 per common share from the first quarter of 2021. The dividend is payable April 14, 2022 to stockholders of record at the close of business on March 31, 2022.        

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 April 1, 2022 to stockholders of record at the close of business on March 24, 2022.

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, 2021, the Company owned and operated a portfolio of 1,404 properties, located in 47 states and containing approximately 29.1 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 (ADC) for April 2022?

Agree Realty has declared a monthly cash dividend of $0.227 per common share for April 2022.

When is the dividend payment date for Agree Realty (ADC)?

The dividend will be paid on April 14, 2022.

How much is the preferred stock dividend for Agree Realty (ADC)?

The preferred stock dividend is $0.08854 per depositary share, equivalent to $1.0625 annually.

When will the preferred stock dividend be paid by Agree Realty?

The preferred stock dividend is payable on April 1, 2022.

How does the new dividend compare to last year's for Agree Realty (ADC)?

The new annualized dividend of $2.724 represents a 9.7% increase over the previous year's $2.484.