Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty Corporation (ADC) Announces 2.9% Increase in Monthly Dividend, Payable in December 2023

Positive

• Monthly cash dividend increased by 2.9%
• Annualized dividend amount now at $2.964 per common share
• Positive signal of company's financial health and stability

Negative

• None.

ROYAL OAK, Mich., Nov. 9, 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 $0.247 per common share. The monthly dividend reflects an annualized dividend amount of $2.964 per common share, representing a 2.9% increase over the annualized dividend amount of $2.880 per common share from the fourth quarter of 2022. The dividend is payable December 14, 2023 to stockholders of record at the close of business on November 30, 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 December 1, 2023 to stockholders of record at the close of business on November 20, 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 September 30, 2023, the Company owned and operated a portfolio of 2,084 properties, located in 49 states and containing approximately 43.2 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 did Agree Realty Corporation (ADC) announce?

Agree Realty Corporation announced a 2.9% increase in its monthly cash dividend, payable in December 2023.

What is the annualized dividend amount per common share now?

The annualized dividend amount per common share is now $2.964.

When is the dividend payable to stockholders of record?

The dividend is payable on December 14, 2023, to stockholders of record at the close of business on November 30, 2023.

What is the dividend amount for the 4.25% Series A Cumulative Redeemable Preferred Stock?

The monthly cash dividend for the 4.25% Series A Cumulative Redeemable Preferred Stock is $0.08854 per depositary share, equivalent to $1.0625 per annum.