Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, amounting to an annualized dividend of $2.808, reflecting a 7.8% increase from last year. This dividend is payable on September 14, 2022, to stockholders of record by August 31, 2022. Additionally, a dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share will be paid on September 1, 2022, for record holders by August 22, 2022.

Positive

• Monthly cash dividend of $0.234 per common share, a 7.8% increase from $2.604 last year.
• Dividend distribution reflects strong confidence in company's cash flow.

Negative

• None.

BLOOMFIELD HILLS, Mich., Aug. 11, 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 $0.234 per common share. The monthly dividend reflects an annualized dividend amount of $2.808 per common share, representing a 7.8% increase over the annualized dividend amount of $2.604 per common share from the third quarter of 2021. The dividend is payable September 14, 2022 to stockholders of record at the close of business on August 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 September 1, 2022 to stockholders of record at the close of business on August 22, 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 June 30, 2022, the Company owned and operated a portfolio of 1,607 properties, located in all 48 continental states and containing approximately 33.8 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 ADC in September 2022?

The dividend amount for Agree Realty Corporation (ADC) in September 2022 is $0.234 per common share.

When is the dividend payable for ADC?

The dividend for ADC is payable on September 14, 2022.

What was the increase in the annual dividend for ADC?

The annual dividend for ADC increased by 7.8%, from $2.604 to $2.808.

What is the preferred stock dividend amount for ADC?

The preferred stock dividend amount for ADC is $0.08854 per depositary share.

When will the preferred stock dividend for ADC be paid?

The preferred stock dividend for ADC will be paid on September 1, 2022.