Gladstone Land Announces Increase in Monthly Cash Distributions for July, August, and September 2020 and Second Quarter Ended June 30, 2020, Earnings Release and Conference Call Dates

Rhea-AI Summary

Gladstone Land Corporation (Nasdaq: LAND) announced cash distributions of $0.0448 per share for common stock and $0.1328125 for Series A Preferred Stock for July, August, and September 2020. Total distributions for the quarter are $0.1344 for common stock and $0.3984375 for Series A Preferred Stock. The Company has maintained consistent monthly distributions since its IPO in January 2013, increasing them 19 times in the last 22 quarters. Additionally, earnings for Q2 2020 will be reported on August 5, 2020, followed by a conference call on August 6.

Positive

• Consistent monthly cash distributions maintained since IPO in January 2013.
• 19 increases in common stock distributions over the past 22 quarters.
• Plans to report earnings for Q2 2020, indicating financial transparency.

Negative

• None.

MCLEAN, Va., July 14, 2020 (GLOBE NEWSWIRE) -- 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 July, August, and September 2020 and also announced its plan to report earnings for its second quarter ended June 30, 2020.

Monthly Cash Distributions:

Common Stock:  $0.0448 per share of common stock for each of July, August, and September 2020, payable per the table below:

100%; border-collapse:collapse !important;">

1%; min-width:1%;">	57%; min-width:57%;">Summary of Common Stock Cash Distributions	1%; min-width:1%;">
23%; width:23%; min-width:23%;">	18%; width:18%; min-width:18%;">	18%; width:18%; min-width:18%;">	18%; width:18%; min-width:18%;">	23%; width:23%; min-width:23%;">
	Record Date	Payment Date	Amount
	July 24	July 31	$ 0.0448
	August 24	August 31	0.0448
	September 23	September 30	0.0448
		Total for the Quarter:	$ 0.1344

The Company has paid 89 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 19 times over the prior 22 quarters.  The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders.  For more information regarding the DRIP, please visit www.GladstoneFarms.com.

Series A Preferred Stock (Nasdaq: LANDP):  $0.1328125 per share of Series A Preferred Stock for each of July, August, and September 2020, payable per the table below:

100%; border-collapse:collapse !important;">

	Summary of Series A Preferred Stock Cash Distributions
23%; width:23%; min-width:23%;">	18%; width:18%; min-width:18%;">	18%; width:18%; min-width:18%;">	18%; width:18%; min-width:18%;">	23%; width:23%; min-width:23%;">
	Record Date	Payment Date	Amount
	July 24	July 31	$ 0.1328125
	August 24	August 31	0.1328125
	September 23	September 30	0.1328125
		Total for the Quarter:	$ 0.3984375

The Company has not skipped, reduced, or deferred a monthly Series A Preferred Stock distribution to date.

Series B Preferred Stock (Unlisted):  $0.125 per share of Series B Preferred Stock for each of July, August, and September 2020, payable per the table below:

100%; border-collapse:collapse !important;">

23%; min-width:23%;">	18%; min-width:18%;">Summary of Series B Preferred Stock Cash Distributions	23%; min-width:23%;">
23%; width:23%; min-width:23%;">	18%; width:18%; min-width:18%;">	18%; width:18%; min-width:18%;">	18%; width:18%; min-width:18%;">	23%; width:23%; min-width:23%;">
	Record Date	Payment Date	Amount
	July 29	August 5	$ 0.125
	August 26	September 4	0.125
	September 30	October 7	0.125
		Total for the Quarter:	$ 0.375

The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.

Series C Preferred Stock (Unlisted):  $0.125 per share of Series C Preferred Stock for each of July, August, and September 2020, payable per the table below:

100%; border-collapse:collapse !important;">

23%; width:23%; min-width:23%;">Summary of Series C Preferred Stock Cash Distributions
23%; width:23%; min-width:23%;">
23%; width:23%; min-width:23%;">	18%; width:18%; min-width:18%;">Record Date	18%; width:18%; min-width:18%;">Payment Date	18%; width:18%; min-width:18%;">Amount	23%; width:23%; min-width:23%;">
21%; min-width:21%;">	19%; min-width:19%;">July 29	19%; min-width:19%;">August 5	1%; min-width:1%;">$ 0.125	21%; min-width:21%;">
	August 26	September 4	0.125
	September 30	October 7	0.125
		Total for the Quarter:	$ 0.375

The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.

Earnings Announcement:

The Company also announced today that it plans to report earnings for its second quarter ended June 30, 2020, after the stock market closes on Wednesday, August 5, 2020.  The Company will hold a conference call on Thursday, August 6, 2020, at 8:30 a.m. EDT to discuss its earnings results.  Please call (833) 423-0495 and enter conference number 5692957 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 August 13, 2020.  To hear the replay, please dial (855) 859-2056 and use playback conference number 5692957.

The live audio broadcast of the Company’s conference call will also be available online at www.GladstoneFarms.com.  The event will be archived and available for replay on the Company’s website through October 6, 2020.

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 currently owns 115 farms, comprised of approximately 89,000 acres in 10 different states, valued at approximately $909 million.  Additional information can be found at www.GladstoneFarms.com.

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.Gladstone.com.

Source:  Gladstone Land Corporation

For further information: Gladstone Land Corporation, +1-703-287-5893

FAQ

What are the cash distributions for Gladstone Land (LAND) for July, August, and September 2020?

Gladstone Land announced cash distributions of $0.0448 per share for common stock and $0.1328125 for Series A Preferred Stock for July, August, and September 2020.

When will Gladstone Land report its Q2 2020 earnings?

Gladstone Land plans to report its Q2 2020 earnings on August 5, 2020.

What is the total cash distribution for common stock for Q3 2020 for Gladstone Land (LAND)?

The total cash distribution for common stock for Q3 2020 is $0.1344.