Agree Realty Declares Monthly Common and Preferred Dividends

Rhea-AI Summary

Agree Realty (NYSE: ADC) has announced two dividend declarations. The company's Board approved a monthly common share dividend of $0.253, representing an annualized amount of $3.036 per share - a 2.4% increase from Q4 2023's $2.964. This dividend will be paid on January 15, 2025, to stockholders of record as of December 31, 2024.

Additionally, the company declared a monthly dividend of $0.08854 per depositary share on its 4.25% Series A Cumulative Redeemable Preferred Stock, equivalent to $1.0625 annually. This preferred dividend is payable January 2, 2025, to stockholders of record as of December 23, 2024.

Positive

• 2.4% increase in annual common dividend from $2.964 to $3.036
• Maintained consistent dividend payment schedule
• Additional preferred stock dividend provides diversified shareholder returns

Negative

• None.

News Market Reaction

+1.39%

1 alert

+1.39% News Effect

On the day this news was published, ADC gained 1.39%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ROYAL OAK, Mich., Dec. 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 January 15, 2025 to stockholders of record at the close of business on December 31, 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 January 2, 2025 to stockholders of record at the close of business on December 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 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 Agree Realty's (ADC) new monthly dividend per common share for January 2025?

Agree Realty's new monthly dividend is $0.253 per common share, payable January 15, 2025.

How much did Agree Realty (ADC) increase its annualized dividend in December 2024?

Agree Realty increased its annualized dividend by 2.4%, from $2.964 to $3.036 per common share.

When is the record date for Agree Realty's (ADC) January 2025 common dividend?

The record date for ADC's January 2025 common dividend is December 31, 2024.

What is Agree Realty's (ADC) preferred stock dividend amount for January 2025?

ADC's preferred stock dividend is $0.08854 per depositary share, equivalent to $1.0625 annually.

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

The preferred stock dividend is payable on January 2, 2025.