Gladstone Commercial Corporation Announces Monthly Cash Distributions for October, November and December 2019 and Third Quart...
October 08 2019 - 4:05PM
Gladstone Commercial Corporation (NASDAQ: GOOD) (the “Company”)
announced today that its board of directors declared cash
distributions for the months of October, November and December 2019
and also announced its plan to report earnings for the third
quarter ended September 30, 2019.
Cash Distributions:
Common Stock: $0.125 cash distribution per
common share for each of October, November and December 2019,
payable per Table 1 below. The Company has paid 177
consecutive monthly cash distributions on its common stock. Prior
to paying distributions on a monthly basis, the Company paid five
consecutive quarterly cash distributions. The Company has
never skipped, reduced or deferred a monthly or quarterly common
stock distribution since its inception in 2003.
Table 1: Summary of common stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
October 22 |
October 31 |
$ |
0.125 |
November 19 |
November 29 |
$ |
0.125 |
December 19 |
December 31 |
$ |
0.125 |
|
Total for the Quarter: |
$ |
0.375 |
|
|
|
|
Senior Common Stock: $0.0875 cash distribution
per share of the Company’s senior common stock (“Senior Common”)
for each of October, November and December 2019, payable per Table
2 below. The Company has paid 114 consecutive monthly cash
distributions on its Senior Common. The Company has never skipped,
reduced or deferred a monthly Senior Common distribution.
Table 2: Summary of Senior Common cash
distributions:
Payable to Holders of Record During the Month
of: |
Payment Date |
Amount |
October |
November 7 |
$ |
0.0875 |
November |
December 6 |
$ |
0.0875 |
December |
January 7 |
$ |
0.0875 |
|
Total for the Quarter: |
$ |
0.2625 |
|
|
|
Series D Preferred Stock: $0.1458333 cash
distribution per share of the Company’s 7.0% Series D Preferred
Stock (“Series D Preferred Stock”) for each of October, November
and December 2019, payable per Table 3 below. The Series D
Preferred Stock trades on NASDAQ under the symbol “GOODM.”
The Company has paid 41 consecutive monthly cash distributions on
its Series D Preferred Stock. The Company has never skipped,
reduced or deferred a monthly Series D Preferred Stock
distribution.
Table 3: Summary of Series D Preferred Stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
October 22 |
October 31 |
$ |
0.1458333 |
November 19 |
November 29 |
$ |
0.1458333 |
December 19 |
December 31 |
$ |
0.1458333 |
|
Total for the Quarter: |
$ |
0.4374999 |
|
|
|
|
Series E Preferred Stock: Cash distribution per
share, as summarized in Table 4 below, of the Company’s newly
designated 6.625% Series E Preferred Stock (“Series E Preferred
Stock”) for each of October, November and December 2019. The Series
E Preferred Stock trades on NASDAQ under the symbol
“GOODN.”
Table 4: Summary of Series E Preferred Stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
October 22 |
October 31 |
$ |
0.128819* |
November 19 |
November 29 |
$ |
0.138021 |
December 19 |
December 31 |
$ |
0.138021 |
|
Total for the Quarter: |
$ |
0.404861 |
*Represents a prorated monthly distribution, based upon issuance
date. |
|
The Company offers a dividend reinvestment plan
(the “DRIP”) to its common stockholders. For more information
regarding the DRIP, please visit www.gladstonecommercial.com.
The Company also recently announced its optional redemption of
all outstanding shares of its $25.0 million 7.75% Series A
Cumulative Redeemable Preferred Stock, and all outstanding shares
of its $31.6 million 7.5% Series B Cumulative Redeemable Preferred
Stock with a redemption date of October 28, 2019 and a redemption
price of $25.00 per share plus all accrued and unpaid dividends
through such redemption date.
Earnings Announcement:
The Company also announced today that it plans to report
earnings for the third quarter ended September 30, 2019, after the
stock market closes on Wednesday, October 30, 2019. The Company
will hold a conference call Thursday, October 31, 2019 at 8:30 a.m.
EDT to discuss its earnings results. Please call (888)
734-0328 to enter 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 November 7, 2019. To hear the
replay, please dial (855) 859-2056 and use playback conference
number 9673066.
The live audio broadcast of the Company’s conference call will
be available online at www.gladstonecommercial.com. The event will
also be archived and available for replay on the Company’s website
through December 31, 2019.
If you have questions prior to or following the earnings release
you may e-mail them to info@gladstonecompanies.com.
Gladstone Commercial Corporation is a real estate investment
trust (“REIT”) focused on acquiring, owning and operating net
leased industrial and office properties across the United States.
As of June 30, 2019, the Company owned 106 properties located in 24
states, totaling approximately 12.9 million square feet.
Additional information can be found at
www.gladstonecompanies.com.
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