Agree Realty Corporation Raises Its Monthly Dividend
Agree Realty Corporation (NYSE: ADC) has announced a new monthly cash dividend of $0.250 per common share. On a run-rate basis, that comes to $3.00 per share annually, a 2.9% increase from the prior annualized level of $2.916 per share. It’s a straightforward change with a clear takeaway: shareholders see a bit more cash each month, and over a year, that adds up.
Key Dates for Common Shareholders
To receive the dividend, investors must be on record as of the close of business on September 30. The payment will be made on October 15. The “record date” is the checkpoint—own the shares by then, and you’re set to receive the October 15 payment. The cadence is familiar to income-focused investors, but the small uplift in the monthly amount is the detail that matters here.
Preferred Stock Dividend: Series A Details
The Board also approved a monthly cash dividend on the company’s 4.25% Series A Cumulative Redeemable Preferred Stock. Holders will receive $0.08854 per depositary share, which works out to an annualized $1.0625. This dividend will be paid on October 1 to shareholders of record as of September 20.
Two quick definitions for clarity’s sake: “cumulative” preferred shares generally accrue unpaid dividends, and “redeemable” means the shares may be bought back by the issuer under certain conditions. Neither changes the amounts or dates above—they simply explain the type of security the dividend applies to.
About Agree Realty Corporation
Agree Realty is a real estate investment trust (REIT) that acquires and develops properties leased to established, industry-leading retail tenants. These are typically net-leased properties, where tenants are responsible for expenses like taxes, insurance, and maintenance, which can make cash flows more predictable for a landlord.
As of mid-2024, the company’s portfolio includes more than 2,202 properties across 49 states, totaling around 45.8 million square feet of gross leasable area. The footprint is broad, and the focus is consistent: own and develop retail properties leased to recognizable operators.
Looking Ahead
Management continues to emphasize disciplined property acquisitions and expansion within the retail segment. The approach aligns with ongoing shifts in how and where people shop, with the aim of reinforcing the company’s position over time. The dividend change is one practical signal of that direction.
Frequently Asked Questions
What is the new monthly dividend on common shares?
Agree Realty declared a monthly dividend of $0.250 per common share. On an annualized basis, that equals $3.00 per share.
When are the record date and payment date for the common dividend?
Shareholders must be on record by the close of business on September 30 to receive the payment on October 15.
What did the Board declare for the preferred shares?
For the 4.25% Series A Cumulative Redeemable Preferred Stock, the company declared a monthly dividend of $0.08854 per depositary share, or $1.0625 annualized. It will be paid on October 1 to holders of record on September 20.
How much did the dividend increase year over year?
The annualized dividend rose 2.9%, moving from $2.916 per share to $3.00 per share.
How large is Agree Realty’s portfolio?
As of mid-2024, the company reports a portfolio of more than 2,202 properties across 49 states, totaling roughly 45.8 million square feet of gross leasable area.
