Agree Realty Announces Monthly Cash Dividends for Shareholders
Agree Realty Declares Monthly Dividends
Agree Realty Corporation (NYSE: ADC) has officially announced a significant update regarding dividends. The Board of Directors has authorized and declared a monthly cash dividend of $0.253 per common share. This monthly dividend translates to an impressive annualized dividend total of $3.036 per common share, showcasing a 2.4% increase compared to the previous annualized dividend of $2.964 per common share for the first quarter of 2024.
Details of the Dividend Payment
This dividend is set to be paid out on March 14, 2025, to all stockholders whose names appear on the record by the close of business on February 28, 2025. This move reflects the company's commitment to ensuring consistent returns to its investors while reinforcing their financial stability.
Preferred Stock Dividend Announcement
In addition to the common share dividends, the Board has also authorized a monthly cash dividend on the 4.25% Series A Cumulative Redeemable Preferred Stock. Shareholders holding these preferred shares will receive a dividend of $0.08854 per depositary share, which equates to around $1.0625 annually. This preference stock dividend will be payable on March 3, 2025, for stockholders on record by February 21, 2025.
Company Overview
Agree Realty Corporation is revolutionizing the retail sector through strategic acquisitions and developments. As a publicly traded real estate investment trust (REIT), the company focuses on properties that are net leased to leading omni-channel retail tenants. As of the end of 2024, Agree Realty has built a robust portfolio comprising 2,370 properties across all 50 states, totaling approximately 48.8 million square feet of gross leasable area.
Commitment to Shareholders
Agree Realty's commitment to increasing shareholder value is evident through its consistent dividend rise. Investors can rely on the company's strategic approach to grow their investments, making it an attractive option in the real estate investment sector. The continuous expansion of their retail footprint underlines their focus on long-term growth and shareholder rewards.
Future Outlook
Moving forward, Agree Realty Corporation remains focused on enhancing its portfolio and increasing shareholder returns through diligent management and excellent property acquisitions. Their innovative approach to retail real estate promises continued success and growth in the industry. Investors can look forward to the company’s strategic moves and future announcements that can enhance their investment value.
Frequently Asked Questions
1. What is the amount of the common share dividend announced by Agree Realty?
The announced monthly cash dividend for common shares is $0.253, which amounts to an annualized dividend of $3.036.
2. When will the common dividend be paid?
The common share dividend will be payable on March 14, 2025, to stockholders on record by February 28, 2025.
3. What is the dividend for preferred stockholders?
Preferred shareholders will receive a dividend of $0.08854 per depositary share, equating to approximately $1.0625 per annum.
4. How many properties does Agree Realty own?
As of the end of 2024, Agree Realty owns a portfolio of 2,370 properties across all 50 states.
5. What is Agree Realty's focus in the real estate market?
Agree Realty focuses on acquiring and developing properties net leased to leading omni-channel retail tenants, thereby rethinking the retail landscape.
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