Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty (NYSE: ADC) has announced monthly dividends for both common and preferred shares. The common share dividend is $0.250 per share, payable on September 16, 2024, to stockholders of record as of August 30, 2024. This reflects an annualized dividend of $3.00 per share, a 2.9% increase from the previous year's $2.916. For the 4.25% Series A Cumulative Redeemable Preferred Stock, a monthly dividend of $0.08854 per depositary share was declared, equivalent to $1.0625 annually. This preferred dividend is payable on September 3, 2024, to stockholders of record as of August 23, 2024. The dividend increase demonstrates Agree Realty's commitment to shareholder returns and confidence in its financial position.

Positive

• Increased common share dividend by 2.9% to $3.00 annualized
• Consistent monthly dividend payments for both common and preferred shares
• Demonstrated commitment to shareholder returns

Negative

• None.

ROYAL OAK, Mich., Aug. 13, 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 $0.250 per common share. The monthly dividend reflects an annualized dividend amount of $3.00 per common share, representing a 2.9% increase over the annualized dividend amount of $2.916 per common share from the third quarter of 2023. The dividend is payable September 16, 2024 to stockholders of record at the close of business on August 30, 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 September 3, 2024 to stockholders of record at the close of business on August 23, 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 Agree Realty's (ADC) new monthly dividend per common share?

Agree Realty (ADC) has declared a monthly cash dividend of $0.250 per common share.

When is the ex-dividend date for Agree Realty's (ADC) September 2024 common share dividend?

The ex-dividend date is not specified in the press release. Stockholders of record at the close of business on August 30, 2024, will receive the dividend payable on September 16, 2024.

How much has Agree Realty (ADC) increased its annualized dividend compared to last year?

Agree Realty (ADC) has increased its annualized dividend by 2.9%, from $2.916 per common share in the third quarter of 2023 to $3.00 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, equivalent to $1.0625 per annum.