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Gladstone Land Announces Increase in Monthly Cash Distributions for April, May and June 2020
MCLEAN, Va., April 14, 2020 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (Nasdaq: LAND) (“Gladstone Land” or the “Company”) announced today that its board
About this update from Gladstone Land Corporation
[{"type":"text","content":"MCLEAN, Va., April 14, 2020 (GLOBE NEWSWIRE) -- 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 April, May and June 2020.\n Monthly Cash Distributions: Common Stock: $0.04470 per share of common stock for each of April, May and June 2020, payable per the table below: Summary of Common Stock Cash Distributions Record DatePayment DateAmountApril 24April 30$ 0.04470May 19May 290.04470June 19June 300.04470Total for the Quarter: $ 0.13410 The Company has paid 86 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 18 times over the prior 21 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): $0.1328125 per share of Series A Preferred Stock for each of April, May and June 2020, payable per the table below: Summary of Series A Preferred Stock Cash Distributions Record DatePayment DateAmountApril 24April 30$ 0.1328125May 19May 290.1328125June 19June 300.1328125 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): $0.125 per share of Series B Preferred Stock for each of April, May and June 2020, payable per the table below: Summary of Series B Preferred Stock Cash Distributions Record DatePayment DateAmountApril 29May 5$ 0.125May 28June 50.125June 25July 20.125 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): $0.125 per share of Series C Preferred Stock for each of April, May and June 2020, payable per the table below: Summary of Series C Preferred Stock Cash Distributions Record DatePayment DateAmountApril 29May 5$ 0.125May 28June 50.125June 25July 20.125 Total for the Quarter: $ 0.375 The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date. Fresh Produce: There was some concern by stockholders that the farmers that are renting farms from our compa...