Gladstone Commercial Corporation Announces Monthly Cash Distributions for July, August and September 2023 and Earnings Release and Conference Call Dates for its Second Quarter Ended June 30, 2023

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[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / July 11, 2023 / Gladstone Commercial Corporation (Nasdaq:GOOD) (the \"Company\") announced today that its board of directors declared cash distributions for the months of July, August and September 2023 and also announced its plan to report earnings for the second quarter ended June 30, 2023.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 in support of the capital preservation effort, the Company's investment adviser has agreed to amend the current Advisory Agreement to waive the otherwise applicable incentive fee for the quarters ending September 30, 2023 and December 31, 2023. Buzz Cooper, the Company's President, stated, \"We believe that the additional temporary incentive fee waiver will further aid the Company in its capital preservation effort and maintain its strong balance sheet through the remainder of 2023.\"Cash Distributions:Common Stock: $0.10 cash distribution per common share for each of July, August and September 2023, payable per Table 1 below. The Company has paid 222 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 DistributionJuly 21July 31$0.10August 23August 31$0.10September 21September 29$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 July, August and September 2023, payable per Table 2 below. The Company has paid 159 consecutive monthly cash distributions on its Senior Common.Table 2: Summary of Senior Common cash distributions:Payable to Holders of Record During the Month of:Payment DateAmountJulyAugust 4$0.0875AugustSeptember 6$0.0875SeptemberOctober 5$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 July, August and September 2023, payable per Table 3 below. The Series E Preferred Stock trades on Nasdaq under the symbol \"GOODN.\" The Company has paid 36 consecutive monthly cash distributions on its Series E Prefer...

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