Agree Realty Declares Monthly Common and Preferred Dividends

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, reflecting an annualized increase to $2.808, up 7.8% from last year's $2.604.

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.234 per common share, reflecting an annualized increase to $2.808, up 7.8% from last year's $2.604. The dividend is payable on August 12, 2022, to shareholders of record by July 29, 2022. Additionally, a dividend of $0.08854 per preferred share will be paid on August 1, 2022, for shareholders of record by July 22, 2022. The company owns 1,510 properties across 47 states with approximately 31.0 million square feet of gross leasable area.

Positive

• Monthly dividend increased to $0.234 per common share, reflecting a 7.8% annualized increase.
• Stable cash flow from a diversified portfolio of 1,510 properties.

Negative

• None.

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BLOOMFIELD HILLS, Mich., July 12, 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 $0.234 per common share. The monthly dividend reflects an annualized dividend amount of $2.808 per common share, representing a 7.8% increase over the annualized dividend amount of $2.604 per common share from the third quarter of 2021. The dividend is payable August 12, 2022 to stockholders of record at the close of business on July 29, 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 August 1, 2022 to stockholders of record at the close of business on July 22, 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 March 31, 2022, the Company owned and operated a portfolio of 1,510 properties, located in 47 states and containing approximately 31.0 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 dividend amount for Agree Realty Corporation in August 2022?

The monthly cash dividend for August 2022 is $0.234 per common share.

When is the dividend for Agree Realty Corporation payable?

The dividend is payable on August 12, 2022, to shareholders of record by July 29, 2022.

Did Agree Realty Corporation increase its dividend in 2022?

Yes, the annualized dividend increased by 7.8% compared to the previous year.

What is the dividend for the preferred shares of Agree Realty Corporation?

The monthly cash dividend for the preferred shares is $0.08854 per depositary share.

When is the dividend for preferred shares payable?

The dividend for preferred shares is payable on August 1, 2022, to shareholders of record by July 22, 2022.