Gladstone Land Increases its Monthly Cash Distributions for April, May and June 2017 and Announces Earnings Release and Confe...
April 11 2017 - 4:09PM
Gladstone Land Corporation (NASDAQ:LAND) (the “Company”) announced
today that its board of directors declared the following cash
distributions for April, May and June 2017 and also announced its
plan to report earnings for the first quarter ending March 31,
2017.
Monthly Cash Distributions:
Common Stock: $0.0435
per share of common stock for each of April, May and June 2017,
representing a 1.2% increase over the prior quarter, payable per
the table below:
Summary of Common Stock Cash
Distributions |
|
Ex-Dividend Date |
Record Date |
Payment Date |
Amount |
April
19 |
April
21 |
April
28 |
$ |
0.0435 |
May
17 |
May
19 |
May
31 |
|
0.0435 |
June
19 |
June
21 |
June
30 |
|
0.0435 |
Total for the Quarter: |
$ |
0.1305 |
|
|
|
The Company has paid 50 consecutive monthly cash distributions
on its common stock since its initial public offering in January
2013 and has increased its common stock distributions six times
over the prior 27 months. The Company offers a dividend
reinvestment plan (the “DRIP”) to its common stockholders; for more
information regarding the DRIP, please visit
www.GladstoneLand.com.
Series A Preferred Stock
(NASDAQ:LANDP): $0.1328125 per share of Series A Preferred
Stock for each of April, May and June 2017, payable per the table
below:
Summary of Series A Preferred Stock Cash
Distributions |
|
|
|
|
Ex-Dividend Date |
Record Date |
Payment Date |
Amount |
April
19 |
April
21 |
April
28 |
$ |
0.1328125 |
May
17 |
May
19 |
May
31 |
|
0.1328125 |
June
19 |
June
21 |
June
30 |
|
0.1328125 |
Total for the Quarter: |
$ |
0.3984375 |
|
|
|
The Company has never skipped, reduced or deferred a monthly
Series A Preferred Stock distribution.
Earnings Announcement:
The Company also announced today that it plans to report
earnings for the first quarter ended March 31, 2017, after the
stock market closes on Tuesday, May 9, 2017. The Company will
hold a conference call Wednesday, May 10, 2017, at 8:30 a.m. EDT to
discuss its earnings results. Please call (855) 363-1762 to
join the conference call. An operator will monitor the call
and set a queue for questions.
A conference call replay will be available after the call and
will be accessible through June 10, 2017. To hear the replay,
please dial (855) 859-2056 and use playback conference number
56276478.
The live audio broadcast of the Company’s conference call will
also be available online at www.GladstoneLand.com. The event
will be archived and available for replay on the Company’s website
through July 10, 2017.
About Gladstone Land:Gladstone Land is a
publicly-traded real estate investment trust that invests in
farmland located in major agricultural markets in the U.S., which
it leases to farmers. The Company currently owns 59 farms,
comprised of 54,340 acres in 7 different states across the U.S.,
valued at approximately $455 million. Additional information
can be found at www.GladstoneLand.com and
www.GladstoneFarms.com.
For stockholder information on Gladstone Land, call (703)
287-5893. 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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