Gladstone Land Announces Increase in Monthly Cash Distributions for April, May and June 2023 and First Quarter Ended March 31, 2023, Earnings Release and Conference Call Dates
Gladstone Land Corporation (NASDAQ: LAND) declared cash distributions for April, May, and June 2023, maintaining its monthly dividend rate of $0.046 per share for common stock, totaling $0.138 for the quarter. The REIT has consistently paid dividends for 122 consecutive months and increased distributions 30 times over the last 33 quarters.
For preferred stocks, distributions are set at $0.125 for Series B and C, with a total of $0.375 for each series for the quarter. Series D and E preferred stocks will pay $0.104167 each, totaling $0.312501 for the quarter. The Company is due to release its first-quarter earnings after market close on May 8, 2023, followed by a conference call on May 9.
- Consistent monthly cash distributions of $0.046 for common stock.
- Total quarterly amount of $0.138 represents ongoing commitment to shareholders.
- No skipped or reduced distributions for Series B, C, D, and E preferred stocks.
- None.
MCLEAN, VA / ACCESSWIRE / April 11, 2023 / Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land" or the "Company") announced today that its board of directors declared the following cash distributions for each of April, May and June 2023.
Monthly Cash Distributions:
Common Stock:
Summary of Common Stock Cash Distributions
Record Date | Payment Date | Amount |
April 21 | April 28 | |
May 23 | May 31 | 0.046 |
June 21 | June 30 | 0.046 |
| Total for the Quarter: | ||
The Company has paid 122 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 30 times over the prior 33 quarters (including this quarter). The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneLand.com.
Series B Preferred Stock (Nasdaq: LANDO):
Summary of Series B Preferred Stock Cash Distributions
Record Date | Payment Date | Amount |
April 21 | April 28 | |
May 23 | May 31 | 0.125 |
June 21 | June 30 | 0.125 |
| Total for the Quarter: | ||
The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.
Series C Preferred Stock (Unlisted):
Summary of Series C Preferred Stock Cash Distributions
Record Date | Payment Date | Amount |
April 26 | May 5 | |
May 26 | June 5 | 0.125 |
June 27 | July 5 | 0.125 |
| Total for the Quarter: | ||
The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.
Series D Preferred Stock (Nasdaq: LANDM):
Summary of Series D Preferred Stock Cash Distributions
Record Date | Payment Date | Amount |
April 21 | April 28 | |
May 23 | May 31 | 0.104167 |
June 21 | June 30 | 0.104167 |
| Total for the Quarter: | ||
The Company has not skipped, reduced, or deferred a monthly Series D Preferred Stock distribution to date.
Series E Preferred Stock (Unlisted):
Summary of Series E Preferred Stock Cash Distributions
Record Date | Payment Date | Amount |
April 26 | May 5 | |
May 26 | June 5 | 0.104167 |
June 27 | July 5 | 0.104167 |
| Total for the Quarter: | ||
The Company has not skipped, reduced, or deferred a monthly Series E Preferred Stock distribution to date.
Earnings Announcement:
The Company also announced today that it plans to report earnings for its first quarter ended March 31, 2023, after the stock market closes on Monday, May 8, 2023. The Company will hold a conference call on Tuesday, May 9, 2023, at 8:30 a.m. Eastern Time to discuss its earnings results. Please call (877) 407-9046 to join the conference call. An operator will monitor the call and set a queue for questions.
A conference call replay will be available after the call and will be accessible through May 16, 2023. To hear the replay, please dial (877) 660-6853 and use playback conference number 13736840.
The live audio broadcast of the Company's conference call will also be available online at www.GladstoneLand.com.
About Gladstone Land:
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the U.S., which it leases to farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and 45,000 acre-feet of banked water in California, valued at a total of approximately
For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.GladstoneCompanies.com.
For further information: Gladstone Land Corporation, (703) 287-5893
SOURCE: Gladstone Land Corporation
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FAQ
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