Agree Realty Announces Increased Monthly Dividends for Shareholders
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Exciting Dividend News from Agree Realty Corporation
Agree Realty Corporation (NYSE: ADC) has made a significant announcement that is set to benefit its investors. The company's Board of Directors has declared a monthly cash dividend of $0.250 per common share. This update represents an annualized dividend of $3.00 per share, demonstrating a positive increase of 2.9% over the previous annualized amount of $2.916 per share.
Dividend Payment Details
The declared dividend is scheduled to be paid to stockholders who are on record as of the close of business on September 30, with a payment date set for October 15. This is a thrilling development for current and potential investors as it showcases Agree Realty's commitment to returning capital to its shareholders.
Preferred Stock Dividend Declaration
In addition to the news regarding the common shares, the Board has also approved a monthly cash dividend for its 4.25% Series A Cumulative Redeemable Preferred Stock. Shareholders will receive $0.08854 per depositary share, which equals an annualized return of $1.0625. This dividend is set to be distributed on October 1, for those on record by September 20.
About Agree Realty Corporation
Agree Realty Corporation operates as a real estate investment trust (REIT) focused on the acquisition and development of properties that are net leased to industry-leading retail tenants. The company emphasizes the transformation of the retail landscape, demonstrating a forward-thinking approach in its operations. As of mid-2024, Agree Realty boasts a robust portfolio exceeding 2,202 properties spread across 49 states, offering around 45.8 million square feet of gross leasable area.
Future Outlook
Looking ahead, Agree Realty continues to emphasize its strategy of strategic property acquisition and further expansion in the retail sector. Investors can look forward to more growth initiatives that align with the evolving trends in retail, further solidifying the company’s position in the market.
Frequently Asked Questions
What is the latest dividend amount declared by Agree Realty?
The latest dividend amount declared is $0.250 per common share, reflecting an annualized amount of $3.00.
When will the dividends be paid?
The common share dividends will be paid on October 15, while the preferred stock dividends will be distributed on October 1.
How does the new dividend compare to the previous one?
The new dividend represents a 2.9% increase over the prior annualized dividend amount of $2.916 per share.
What type of stock does Agree Realty offer dividends for?
The company offers dividends for both common shares and its 4.25% Series A Cumulative Redeemable Preferred Stock.
How many properties does Agree Realty own?
As of mid-2024, Agree Realty owns and operates a portfolio of 2,202 properties.
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