MCLEAN, Va., Sept. 12, 2016 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (NASDAQ: LAND ) (the “Company”) announced today that its board of directors declared the following initial cash distribution for its newly issued 6.375% Series A Cumulative Term Preferred Stock (the “Series A Preferred Stock”):
Cash Distribution :
Series A Preferred Stock : $0.190364583 per share of Series A Preferred Stock representing the cumulative dividend from (but excluding) the date of original issuance through the month ending September 30, 2016.
| Summary of Series A Preferred Stock Cash Distribution: | ||||||||
| Ex-Dividend Date | Record Date | Payment Date | Amount | |||||
| September 19 | September 21 | September 30 | $ | 0.190364583 | ||||
This represents the first cash distribution payment to holders of the Company’s Series A Preferred Stock. The Company has paid 42 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013.
About Gladstone Land: Gladstone Land Corporation is a publicly-traded agricultural real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the United States that it leases to corporate and independent farmers. The Company currently owns 54 farms, comprised of 31,313 acres in 7 different states across the U.S., valued at approximately $350 million. Information on the business activities of all of the Gladstone funds can be found at www.gladstonecompanies.com .
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com .
For further information: Gladstone Land Corporation, +1-703-287-5893
