Agree Realty Declares Monthly Common and Preferred Dividends

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.240 per common share, marking a 5.7% increase from the $2.724 annual dividend in Q1 2022.

Rhea-AI Summary

Agree Realty Corporation (NYSE: ADC) announced a monthly cash dividend of $0.240 per common share, marking a 5.7% increase from the $2.724 annual dividend in Q1 2022. This reflects an annualized amount of $2.880 per share, payable on March 14, 2023, to shareholders on record by February 28, 2023. Additionally, a monthly dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock is set for March 1, 2023. Shareholders should note the company’s steady performance amidst changing retail dynamics.

Positive

• Monthly cash dividend increased from $2.724 to $2.880 annually, showing company growth.
• Consistent dividend payments enhance shareholder income and confidence.

Negative

• None.

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BLOOMFIELD HILLS, Mich., Feb. 13, 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 $0.240 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 first quarter of 2022. The dividend is payable March 14, 2023 to stockholders of record at the close of business on February 28, 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 March 1, 2023 to stockholders of record at the close of business on February 23, 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 December 31, 2022, the Company owned and operated a portfolio of 1,839 properties, located in all 48 continental states and containing approximately 38.1 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

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What is the dividend amount declared by Agree Realty Corporation on February 13, 2023?

Agree Realty Corporation declared a monthly cash dividend of $0.240 per common share on February 13, 2023.

When is the dividend payable to shareholders for Agree Realty Corporation?

The dividend is payable on March 14, 2023, to shareholders of record by February 28, 2023.

How much will the preferred stock dividend be for Agree Realty Corporation?

The monthly cash dividend on the 4.25% Series A Cumulative Redeemable Preferred Stock is $0.08854 per depositary share.

What is the annualized dividend for common shares of Agree Realty Corporation?

The annualized dividend amount for common shares is $2.880, reflecting a 5.7% increase from the previous year.

What is the payment date for the preferred stock dividend?

The preferred stock dividend is payable on March 1, 2023, to shareholders of record by February 23, 2023.