Agree Realty Declares an Increased Monthly Dividend
Agree Realty Corporation (NYSE: ADC) is pleased to share that its Board of Directors has authorized a significant increase in its monthly cash dividend. This increase reflects a commitment to rewarding shareholders while highlighting the company's robust financial position. The newly declared monthly cash dividend stands at $0.256 per common share.
Year-Over-Year Growth
This recent announcement marks a 1.2% increase from the previous month, demonstrating a year-over-year growth rate of 2.4%. The annualized dividend now equates to $3.072 per common share, compared to the $3.00 per share recorded from the second quarter of the prior year.
Details on Dividend Payments
The upcoming dividend is set to be payable on a scheduled date, showcasing the company’s reliability. Shareholders on record as of the close of business on a designated day will receive the dividend, ensuring consistent returns for those invested in Agree Realty.
Additional Preferred Stock Dividend
Moreover, the company's Board has also declared a cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock. This dividend is established at $0.08854 per depositary share, corresponding to an annual amount of $1.0625 per share. This payment will also be executed in a timely manner, enhancing shareholder value further.
About Agree Realty Corporation
Agree Realty Corporation centers its operations around acquiring and developing prime retail properties that are net leased to top-tier tenants across the retail sector. The company’s strategy is focused on 'RETHINKING RETAIL,' aiming to adapt to the evolving landscape of consumer behavior and retail dynamics.
As of a recent fiscal reporting date, the company owns and manages an extensive portfolio consisting of 2,370 properties that span the entirety of the nation. This impressive portfolio includes approximately 48.8 million square feet of gross leasable area, further solidifying the company's position in the marketplace.
Market Presence
Agree Realty Corporation is traded on the New York Stock Exchange under the symbol ADC, and its continued growth and dividend payments position it favorably among investors looking for stability in the retail real estate investment trust sector.
Frequently Asked Questions
What is the new monthly dividend announced by Agree Realty?
The newly declared monthly dividend is $0.256 per common share, reflecting a recent increase.
How does this dividend increase compare to the previous year?
The current dividend represents a 1.2% increase month-over-month and a 2.4% increase year-over-year.
When is the dividend payable?
The dividend is payable to shareholders of record on a specified date, showcasing the company’s commitment to reward investors.
What does Agree Realty Corporation focus on?
The company focuses on acquiring and developing retail properties net leased to leading tenants, adapting to retail market changes.
Where can I find more information about Agree Realty?
For further information about the company and its operations, please visit their official website.
