Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) has declared a monthly cash dividend of $0.234 per common share, marking a 7.8% increase from the prior year. This translates to an annualized dividend of $2.808, payable on June 14, 2022, to stockholders of record as of May 31, 2022. Additionally, a dividend of $0.08854 per share on its 4.25% Series A Cumulative Redeemable Preferred Stock is also declared, payable on June 1, 2022, to stockholders of record by May 23, 2022.

Positive

• Monthly cash dividend of $0.234 per common share announced.
• 7.8% increase in annualized dividend, boosting shareholder returns.
• Strong financial position indicated by consistent dividend payments.

Negative

• None.

BLOOMFIELD HILLS, Mich., May 12, 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 second quarter of 2021. The dividend is payable June 14, 2022 to stockholders of record at the close of business on May 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 June 1, 2022 to stockholders of record at the close of business on May 23, 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 March 31, 2022, the Company owned and operated a portfolio of 1,510 properties, located in 47 states and containing approximately 31.0 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 Corporation (ADC)?

Agree Realty Corporation has declared a monthly cash dividend of $0.234 per common share.

When is the dividend payable for ADC stockholders?

The dividend is payable on June 14, 2022, for stockholders of record on May 31, 2022.

What is the anticipated annualized dividend for 2022 for ADC?

The annualized dividend for 2022 is $2.808 per common share.

Is there a dividend for preferred stock from Agree Realty Corporation?

Yes, a dividend of $0.08854 per share on the 4.25% Series A Cumulative Redeemable Preferred Stock is declared.

When is the preferred stock dividend payable for ADC?

The preferred stock dividend is payable on June 1, 2022, to stockholders of record by May 23, 2022.