Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty (NYSE: ADC) announced its Board of Directors has declared a monthly cash dividend of $0.253 per common share, reflecting an annualized dividend of $3.036 per share. This represents a 2.4% increase over the previous year's fourth-quarter annualized dividend of $2.964 per share. The dividend is payable on December 13, 2024 to stockholders recorded as of November 29, 2024.

The Board also declared a monthly dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, equivalent to $1.0625 per annum, payable on December 2, 2024 to stockholders recorded as of November 22, 2024.

Positive

• Agree Realty increased its annualized dividend by 2.4% to $3.036 per common share.
• Monthly dividend payments provide consistent income for shareholders.

Negative

• The increase in dividends could impact the company's cash reserves.

ROYAL OAK, Mich., Nov. 12, 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 $0.253 per common share. The monthly dividend reflects an annualized dividend amount of $3.036 per common share, representing a 2.4% increase over the annualized dividend amount of $2.964 per common share from the fourth quarter of 2023. The dividend is payable December 13, 2024 to stockholders of record at the close of business on November 29, 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 December 2, 2024 to stockholders of record at the close of business on November 22, 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 September 30, 2024, the Company owned and operated a portfolio of 2,271 properties, located in 49 states and containing approximately 47.2 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 the new monthly dividend declared by Agree Realty (ADC)?

Agree Realty declared a new monthly dividend of $0.253 per common share.

When is the dividend payment date for Agree Realty's common shares?

The dividend payment date for Agree Realty's common shares is December 13, 2024.

What is the record date for Agree Realty's common share dividend?

The record date for Agree Realty's common share dividend is November 29, 2024.

How much is the annualized dividend for Agree Realty's common shares after the increase?

The annualized dividend for Agree Realty's common shares is $3.036 after the increase.

What is the monthly dividend for Agree Realty's Series A Preferred Stock?

The monthly dividend for Agree Realty's Series A Preferred Stock is $0.08854 per depositary share.

When is the payment date for Agree Realty's Series A Preferred Stock dividend?

The payment date for Agree Realty's Series A Preferred Stock dividend is December 2, 2024.