Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.243 per common share, representing a 3.8% increase from the previous quarter. The dividend is payable on August 14, 2023. The company has also declared a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, equivalent to $1.0625 per annum. The dividend is payable on August 1, 2023.

Positive

• Agree Realty Corporation has increased its monthly cash dividend by 3.8% compared to the previous quarter.
• The company's dividend on its preferred stock remains consistent.

Negative

• None.

ROYAL OAK, Mich. , July 17, 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 $0.243 per common share. The monthly dividend reflects an annualized dividend amount of $2.916 per common share, representing a 3.8% increase over the annualized dividend amount of $2.808 per common share from the third quarter of 2022. The dividend is payable August 14, 2023 to stockholders of record at the close of business on July 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 August 1, 2023 to stockholders of record at the close of business on July 21, 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 March 31, 2023, the Company owned and operated a portfolio of 1,908 properties, located in all 48 continental states and containing approximately 40.1 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 per common share declared by Agree Realty Corporation?

The dividend amount per common share declared by Agree Realty Corporation is $0.243.

When is the dividend payable?

The dividend is payable on August 14, 2023.

What is the dividend amount per depositary share for Agree Realty Corporation's preferred stock?

The dividend amount per depositary share for Agree Realty Corporation's preferred stock is $0.08854.

When is the dividend on the preferred stock payable?

The dividend on the preferred stock is payable on August 1, 2023.