MCLEAN, VA / ACCESSWIRE / October 13, 2020 / Gladstone Land Corporation (NASDAQ:LAND) ("Gladstone Land" or the "Company") announced today that its board of directors declared the following cash distributions for each of October, November and December 2020 and also announced its plan to report earnings for its third quarter ended September 30, 2020.
Monthly Cash Distributions:
Common Stock: $0.0449 per share of common stock for each of October, November and December 2020, payable per the table below:
Summary of Common Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
October 23 |
October 30 |
$ 0.0449 |
|
November 20 |
November 30 |
0.0449 |
|
December 23 |
December 31 |
0.0449 |
|
Total for the Quarter: |
$ 0.1347 |
|
The Company has paid 92 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 20 times over the prior 23 quarters. The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneFarms.com.
Series A Preferred Stock (NASDAQ:LANDP): $0.1328125 per share of Series A Preferred Stock for each of October, November and December 2020, payable per the table below:
Summary of Series A Preferred Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
October 23 |
October 30 |
$ 0.1328125 |
|
November 20 |
November 30 |
0.1328125 |
|
December 23 |
December 31 |
0.1328125 |
|
Total for the Quarter: |
$ 0.3984375 |
|
The Company has not skipped, reduced, or deferred a monthly Series A Preferred Stock distribution to date.
Series B Preferred Stock (Unlisted): $0.125 per share of Series B Preferred Stock for each of October, November and December 2020, payable per the table below:
Summary of Series B Preferred Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
October 27 |
November 5 |
$ 0.125 |
|
November 25 |
December 4 |
0.125 |
|
December 24 |
January 5 |
0.125 |
|
Total for the Quarter: |
$ 0.375 |
|
The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.
Series C Preferred Stock (Unlisted): $0.125 per share of Series C Preferred Stock for each of October, November and December 2020, payable per the table below:
Summary of Series C Preferred Stock Cash Distributions
|
Record Date |
Payment Date |
Amount |
|
October 27 |
November 5 |
$ 0.125 |
|
November 25 |
December 4 |
0.125 |
|
December 24 |
January 5 |
0.125 |
|
Total for the Quarter: |
$ 0.375 |
|
The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.
Earnings Announcement:
The Company also announced today that it plans to report earnings for its third quarter ended September 30, 2020, after the stock market closes on Wednesday, November 4, 2020. The Company will hold a conference call on Thursday, November 5, 2020, at 8:30 a.m. EST to discuss its earnings results. Please call (877) 407-9046 and enter conference number 13711040 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 November 12, 2020. To hear the replay, please dial (877) 660-6853 and use playback conference number 13711040.
The live audio broadcast of the Company's conference call will also be available online at www.GladstoneFarms.com. The event will be archived and available for replay on the Company's website.
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 124 farms, comprised of approximately 93,000 acres in 12 different states, valued at approximately $983 million. Additional information can be found at 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
SOURCE: Gladstone Land Corporation