Agree Realty Declares Inaugural Monthly Cash Dividend
Rhea-AI Summary
Agree Realty Corporation (NYSE: ADC) has declared its inaugural monthly cash dividend of $0.207 per common share, reflecting an annualized amount of $2.484. This represents a 6.2% increase over the previous annualized dividend of $2.340. The dividend is payable on February 12, 2021, to shareholders of record by January 29, 2021. The company, which owns 1,129 properties across 46 states, focuses on acquiring and developing net-leased retail properties.
Positive
- Inaugural monthly dividend of $0.207 per share boosts shareholder income.
- 6.2% increase over the previous annualized dividend reflects company growth and confidence.
Negative
- None.
News Market Reaction – ADC
In the trading session that priced this news, ADC gained 2.37%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BLOOMFIELD HILLS, Mich., Jan. 14, 2021 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) (the "Company") today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states and containing approximately 22.7 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC". For additional information, please visit www.agreerealty.com.
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SOURCE Agree Realty Corporation