Agree Realty Declares Increased Monthly Common Dividend

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Agree Realty (NYSE: ADC) has announced an increase in its monthly cash dividend for common shareholders. The new dividend of $0.253 per common share represents a 1.2% month-over-month increase and a 2.4% year-over-year growth. This translates to an annualized dividend amount of $3.036 per common share, up from $2.964 in the fourth quarter of 2023.

The dividend is payable on November 14, 2024, to stockholders of record as of October 31, 2024. Additionally, the company declared a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, equivalent to $1.0625 per annum, payable on November 1, 2024, to stockholders of record as of October 22, 2024.

Positive

• Increased monthly cash dividend for common shareholders by 1.2% month-over-month
• 2.4% year-over-year growth in annualized dividend amount
• New annualized dividend of $3.036 per common share, up from $2.964 in Q4 2023

Negative

• None.

Increase Results in 2.4% Year-Over-Year Growth and Annualized Dividend of $3.036 Per Share

ROYAL OAK, Mich., Oct. 10, 2024  /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 $0.253 per common share, representing a 1.2% month-over-month increase. The monthly dividend reflects an annualized dividend amount of $3.036 per common share, representing a 2.4% increase over the annualized dividend amount of $2.964 per common share from the fourth quarter of 2023. The dividend is payable November 14, 2024 to stockholders of record at the close of business on October 31, 2024. 

Additionally, the Company's Board of Directors has authorized, and the Company has declared, a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, which is equivalent to $1.0625 per annum. The dividend is payable November 1, 2024 to stockholders of record at the close of business on October 22, 2024. 

About Agree Realty Corporation

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of June 30, 2024, the Company owned and operated a portfolio of 2,202 properties, located in 49 states and containing approximately 45.8 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 on the Company and RETHINKING RETAIL, please visit www.agreerealty.com.

 

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SOURCE Agree Realty Corporation

FAQ

What is the new monthly dividend amount for Agree Realty (ADC)?

Agree Realty (ADC) has declared a new monthly cash dividend of $0.253 per common share.

When will Agree Realty (ADC) pay its next common stock dividend?

The next common stock dividend for Agree Realty (ADC) is payable on November 14, 2024, to stockholders of record as of October 31, 2024.

How much has Agree Realty (ADC) increased its dividend year-over-year?

Agree Realty (ADC) has increased its annualized dividend by 2.4% year-over-year, from $2.964 to $3.036 per common share.

What is the dividend amount for Agree Realty 's (ADC) preferred stock?

Agree Realty (ADC) has declared a monthly cash dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock.