Agree Realty Declares Increased Monthly Common Dividend

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Agree Realty Corporation announces increase in dividend

Positive

• Agree Realty Corporation has declared a monthly cash dividend of $0.247 per common share, representing a 2.9% increase over the previous amount. This reflects a positive growth for the company.

Negative

• None.

Increase Results in 1.6% Month-Over-Month Growth and 2.9% Year-Over-Year Growth 

ROYAL OAK, Mich., Oct. 12, 2023 /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 $0.247 per common share. The monthly dividend reflects an annualized dividend amount of $2.964 per common share, representing a 2.9% increase over the annualized dividend amount of $2.880 per common share from the fourth quarter of 2022. The dividend is payable November 14, 2023 to stockholders of record at the close of business on October 31, 2023.

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, 2023 to stockholders of record at the close of business on October 20, 2023.

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, 2023, the Company owned and operated a portfolio of 2,004 properties, located in 49 states and containing approximately 41.7 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 on the Company and RETHINKING RETAIL, please visit www.agreerealty.com.

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SOURCE Agree Realty Corporation

What is the dividend amount per common share?

The dividend amount per common share is $0.247.

What is the annualized dividend amount per common share?

The annualized dividend amount per common share is $2.964.

When is the dividend payable?

The dividend is payable on November 14, 2023.

What is the dividend for the Series A Cumulative Redeemable Preferred Stock?

The dividend for the Series A Cumulative Redeemable Preferred Stock is $0.08854 per depositary share, equivalent to $1.0625 per annum.

When is the dividend for the Series A Cumulative Redeemable Preferred Stock payable?

The dividend for the Series A Cumulative Redeemable Preferred Stock is payable on November 1, 2023.