Gladstone Commercial Corporation Announces Monthly Cash Distributions for January, February and March 2023 and Fourth Quarter Ended December 31, 2022 Earnings Release and Conference Call Dates

About this update from Gladstone Commercial Corporation - Real Estate Investment Trust

[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / January 10, 2023 / 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 2023 and also announced its plan to report earnings for the fourth quarter ended December 31, 2022.In an effort to increase retained capital in anticipation of further economic headwinds, the board of directors has taken what it believes is the prudent path and reduced the run rate on its monthly dividend (from $0.1254 to $0.10). In addition, and in support of the capital preservation effort, the Company's investment adviser has agreed to amend the current Advisory Agreement to waive the applicable incentive fee for the quarters ending March 31, 2023 and June 30, 2023. Buzz Cooper, the Company's President, stated, \"We believe that the dividend cut, along with the temporary incentive fee waiver, will help the Company to maintain a strong balance sheet in 2023.\"Cash Distributions:Common Stock: $0.10 cash distribution per common share for each of January, February and March 2023, payable per Table 1 below. The Company has paid 216 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, the Company paid five consecutive quarterly cash distributions.Table 1: Summary of common stock cash distributions:Record DatePayment DateCash DistributionJanuary 20January 31$0.10February 17February 28$0.10March 17March 31$0.10 Total for the Quarter:$0.30Senior Common Stock: $0.0875 cash distribution per share of the Company's senior common stock (\"Senior Common\") for each of January, February and March 2023, payable per Table 2 below. The Company has paid 153 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 DateAmountJanuaryFebruary 6$0.0875FebruaryMarch 6$0.0875MarchApril 6$0.0875 Total for the Quarter$0.2625Series 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 2023, payable per Table 3 below. The Series E Preferred Stock trades on N...

More updates from Gladstone Commercial Corporation - Real Estate Investment Trust