Agree Realty Corporation Boosts Dividends for Shareholders
Agree Realty Corporation Declares Increased Monthly Dividends
Agree Realty Corporation (NYSE: ADC) has made a significant announcement regarding its commitment to rewarding shareholders. The company has declared a monthly cash dividend of $0.253 per common share, reflecting an impressive annualized amount of $3.036 per share. This marks a 2.4% increase from the previous quarterly amount, signifying the company’s ongoing growth and strong financial health.
Details of the Common Share Dividend
The recent declaration by the Board of Directors showcases Agree Realty's dedication to providing value to its investors. The dividend is scheduled to be payable on January 15, 2025, to stockholders registered by the close of business on December 31, 2024. This initiative is a testament to the company’s robust operational performance and its ability to generate consistent income for its shareholders.
Preferred Stock Dividend Announcement
In addition to the common share dividend, the company also declared a monthly cash dividend for its 4.25% Series A Cumulative Redeemable Preferred Stock. Shareholders will receive $0.08854 per depositary share, equating to an annual amount of $1.0625. This dividend will be paid out on January 2, 2025, for those stockholders on record as of December 23, 2024.
Focusing on Long-Term Value
Agree Realty Corporation’s ongoing enhancements to its dividend payouts reflect not just a short-term strategy but a long-term commitment to sustaining value and fostering growth within the company. As of September 30, 2024, the company boasts a portfolio of 2,271 properties spanning across 49 states, amounting to approximately 47.2 million square feet of gross leasable area. This extensive portfolio positions Agree Realty as a significant player in the retail real estate investment sector.
Emphasizing Retail Innovation
With a focus on RETHINKING RETAIL, Agree Realty is dedicated to acquiring and developing properties that cater to industry-leading, omni-channel retail tenants. This forward-thinking approach is designed to adapt to the changing landscape of retail, ensuring the company stays relevant and profitable.
Commitment to Shareholders
The recent dividend increases reaffirm Agree Realty Corporation's commitment to its stakeholders. By continuing to boost dividends, the company demonstrates its confidence in generating sustainable earnings and delivering continued value to investors. As shareholders look towards the future, Agree Realty's strategic focus and solid operational metrics instills confidence in sustained performance.
Frequently Asked Questions
What is the recent dividend rate declared by Agree Realty Corporation?
The company has declared a monthly dividend of $0.253 per common share, marking a 2.4% increase over the previous amount.
When will the dividends be paid?
The dividend for common shares will be paid on January 15, 2025, while the preferred stock dividend will be paid on January 2, 2025.
How many properties does Agree Realty own?
As of September 30, 2024, Agree Realty manages a portfolio of 2,271 properties located in 49 states.
What type of tenants does Agree Realty target?
Agree Realty focuses on industry-leading, omni-channel retail tenants, emphasizing their commitment to modern retail practices.
What is the ticker symbol for Agree Realty Corporation?
The company is listed on the New York Stock Exchange under the ticker symbol ADC.
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