Agree Realty Declares Monthly Common and Preferred Dividends
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.
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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.
Details
News Market Reaction – ADC
The recorded move for ADC in the trading session of this news was +0.56%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Additionally, the Company's Board of Directors has authorized, and the Company has declared, a monthly cash dividend on its
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
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