Agree Realty Declares Monthly Common and Preferred Dividends

Agree Realty Corporation (NYSE: ADC) declared a monthly cash dividend of $0.240 per common share, marking a 5.7% increase over the prior year's annualized dividend.

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) declared a monthly cash dividend of $0.240 per common share, marking a 5.7% increase over the prior year's annualized dividend. This brings the annualized amount to $2.880 per share, payable on December 14, 2022 to shareholders on record as of November 30, 2022. Additionally, a monthly dividend of $0.08854 per preferred share is set for December 1, 2022, to shareholders on record as of November 21, 2022.

Positive

• Monthly cash dividend increased by 5.7%, reflecting strong financial performance.
• Annualized dividend now stands at $2.880 per common share, indicating company stability.
• Preferred stock dividend also confirms consistent returns to shareholders.

Negative

• None.

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BLOOMFIELD HILLS, Mich., Nov. 14, 2022 /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 $0.240 per common share. The monthly dividend reflects an annualized dividend amount of $2.880 per common share, representing a 5.7% increase over the annualized dividend amount of $2.724 per common share from the fourth quarter of 2021. The dividend is payable December 14, 2022 to stockholders of record at the close of business on November 30, 2022.                                  

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 December 1, 2022 to stockholders of record at the close of business on November 21, 2022.

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 September 30, 2022, the Company owned and operated a portfolio of 1,707 properties, located in all 48 continental states and containing approximately 35.8 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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the latest dividend amount declared by Agree Realty Corporation (ADC)?

The latest monthly cash dividend declared is $0.240 per common share.

When is the dividend for Agree Realty Corporation (ADC) payable?

The dividend is payable on December 14, 2022.

What was the percentage increase in the dividend for Agree Realty Corporation (ADC)?

The dividend increased by 5.7% compared to the previous year.

What is the annualized dividend amount for common shares of Agree Realty Corporation (ADC)?

The annualized dividend amount is $2.880 per common share.

When will the preferred stock dividend for Agree Realty Corporation (ADC) be paid?

The preferred stock dividend will be paid on December 1, 2022.