Business
Gladstone Land Announces Increase in Monthly Cash Distributions for January, February, and March 2021
MCLEAN, VA / ACCESSWIRE / January 12, 2021 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced today that its board of
About this update from Gladstone Land Corporation
[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / January 12, 2021 / 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 2021.Monthly Cash Distributions:Common Stock: $0.04495 per share of common stock for each of January, February, and March 2021, payable per the table below:Summary of Common Stock Cash DistributionsRecord DatePayment DateAmountJanuary 22January 29$ 0.04495February 17February 260.04495March 18March 310.04495Total for the Quarter:$ 0.13485The Company has paid 95 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 21 times over the prior 24 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): $0.1328125 per share of Series A Preferred Stock for January 2021, payable per the table below:Summary of Series A Preferred Stock Cash DistributionsRecord DatePayment DateAmountJanuary 22January 29$ 0.1328125Total for the Quarter:$ 0.1328125As a result of the previously announced conditional optional redemption of all of the outstanding shares of Series A Preferred Stock, which is currently expected to occur on February 12, 2021, the Company did not declare any subsequent dividends on the Series A Preferred Stock. The Company has not skipped, reduced, or deferred a monthly Series A Preferred Stock distribution to date.Series B Preferred Stock (Nasdaq:LANDO): $0.125 per share of Series B Preferred Stock for each of January, February and March 2021, payable per the table below:Summary of Series B Preferred Stock Cash DistributionsRecord DatePayment DateAmountJanuary 27February 5$ 0.125February 24March 50.125March 24April 50.125Total for the Quarter:$ 0.375The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.Series C Preferred Stock (Unlisted): $0.125 per share of Series C Preferred Stock for each of January, February and March 2021, payable per the table below:Summary of Series C Preferred Stock Cash DistributionsRecord DatePayment DateAmountJanuary 27February 5$ 0.125February...