Business
Gladstone Land Announces Increase in Monthly Cash Distributions for January, February, and March 2020
MCLEAN, Va., Jan. 14, 2020 (GLOBE NEWSWIRE) -- MCLEAN, Va., January 14, 2020 – Gladstone Land Corporation (Nasdaq: LAND) (“Gladstone Land” or the “Company”)
About this update from Gladstone Land Corporation
[{"type":"text","content":"MCLEAN, Va., Jan. 14, 2020 (GLOBE NEWSWIRE) -- MCLEAN, Va., January 14, 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 January, February, and March 2020.\n Monthly Cash Distributions: Common Stock: $0.04465 per share of common stock for each of January, February, and March 2020, payable per the table below: Summary of Common Stock Cash Distributions Record DatePayment DateAmountJanuary 24January 31$0.04465February 19February 28 0.04465March 20March 31 0.04465Total for the Quarter:$ 0.13395 The Company has paid 83 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 17 times over the prior 20 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 January, February, and March 2020, payable per the table below: Summary of Series A Preferred Stock Cash Distributions Record DatePayment DateAmountJanuary 24January 31$0.1328125February 19February 28 0.1328125March 20March 31 0.1328125Total for the Quarter:$ 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 January, February and March 2020, payable per the table below: Summary of Series B Preferred Stock Cash Distributions Record DatePayment DateAmountJanuary 22January 31$0.125February 26March 4 0.125March 25April 1 0.125Total for the Quarter:$ 0.375 The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date. 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 111 farms, comprised of approximately 87,000 acres in 10 different states across the U.S., valued at approximately $876 million. Additional information can be found at www.GladstoneFarms.com. For stockholder...