Gladstone Commercial Corporation Announces Increase in Cash Distributions to Common Stockholders, Monthly Cash Distributions ...
January 14 2020 - 4:30PM
Gladstone Commercial Corporation (Nasdaq: GOOD) (the “Company”)
announced today that its board of directors declared cash
distributions for the months of January, February and March 2020,
increasing distributions to common stockholders. The Company also
announced its plan to report earnings for the fourth quarter ended
December 31, 2019.
Cash Distributions:
Common Stock: $0.12515 cash distribution per
common share for each of January, February and March 2020, payable
per Table 1 below. The Company has paid 180 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 |
January 24 |
January 31 |
$0.12515 |
February 19 |
February 28 |
$0.12515 |
March 20 |
March 31 |
$0.12515 |
|
Total for the Quarter: |
$0.37545 |
Senior Common Stock: $0.0875 cash distribution
per share of the Company’s senior common stock (“Senior Common”)
for each of January, February and March 2020, payable per Table 2
below. The Company has paid 117 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 |
January |
February 7 |
$0.0875 |
February |
March 6 |
$0.0875 |
March |
April 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 January, February
and March 2020, payable per Table 3 below. The Series D Preferred
Stock trades on Nasdaq under the symbol “GOODM.” The Company
has paid 44 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 |
January 24 |
January 31 |
$0.1458333 |
February 19 |
February 28 |
$0.1458333 |
March 20 |
March 31 |
$0.1458333 |
|
Total for the Quarter: |
$0.4374999 |
Series E Preferred Stock: $0.138021 cash
distribution per share of the Company’s 6.625% Series E Preferred
Stock (“Series E Preferred Stock”) for each of January, February
and March 2020, payable per Table 4 below. The Series E Preferred
Stock trades on Nasdaq under the symbol “GOODN.” The Company
has never skipped, reduced or deferred a monthly Series E Preferred
Stock distribution.
Table 4: Summary of Series E Preferred Stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
January 24 |
January 31 |
$0.138021 |
February 19 |
February 28 |
$0.138021 |
March 20 |
March 31 |
$0.138021 |
|
Total for the Quarter: |
$0.414063 |
The Company offers a dividend reinvestment plan
(the “DRIP”) to its common stockholders. For more information
regarding the DRIP, please visit www.gladstonecommercial.com.
Earnings Announcement:
The Company also announced today that it plans to report
earnings for the fourth quarter ended December 31, 2019, after the
stock market closes on Wednesday, February 12, 2020. The Company
will hold a conference call Thursday, February 13, 2020 at 8:30
a.m. EST 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 February 20, 2020. To hear the
replay, please dial (855) 859-2056 and use playback conference
number 6039117.
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 April 13, 2020.
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 September 30, 2019, the Company owned 109 properties located
in 24 states, totaling approximately 13.1 million square
feet. Additional information can be found at
www.gladstonecommercial.com.
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