Agree Realty Declares Monthly Common and Preferred Dividends

Agree Realty (NYSE: ADC) has announced monthly dividends for both common and preferred shareholders.

Rhea-AI Summary

Agree Realty (NYSE: ADC) has announced monthly dividends for both common and preferred shareholders. The Board of Directors declared a monthly cash dividend of $0.250 per common share, payable on October 15, 2024, to stockholders of record as of September 30, 2024. This represents an annualized dividend of $3.00 per common share, a 2.9% increase from the previous year's third quarter.

Additionally, the company 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. This dividend is payable on October 1, 2024, to stockholders of record as of September 20, 2024.

Positive

• Increased annualized dividend for common shares by 2.9% to $3.00
• Consistent monthly dividend payments for both common and preferred shareholders
• Demonstrated ability to maintain and grow shareholder returns

Negative

• None.

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ROYAL OAK, Mich., Sept. 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 $0.250 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 October 15, 2024 to stockholders of record at the close of business on September 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 October 1, 2024 to stockholders of record at the close of business on September 20, 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

FAQ

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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 payment date for Agree Realty's (ADC) common share dividend?

The common share dividend is payable on October 15, 2024, to stockholders of record as of September 30, 2024.

How much has Agree Realty (ADC) increased its annualized dividend?

Agree Realty (ADC) has increased its annualized dividend by 2.9%, from $2.916 to $3.00 per common share.

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

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