Gladstone Land Corporation Announces Initial Cash Distribution for 6.375% Series A Cumulative Term Preferred Stock
September 12 2016 - 4:36PM
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: |
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|
|
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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
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