Gladstone Commercial Corporation Announces Monthly Cash Distributions for January, February and March 2024 and Earnings Release and Conference Call Dates for its Fourth Quarter Ended December 31, 2023
Gladstone Commercial Corporation (NASDAQ:GOOD) declared cash distributions for January, February, and March 2024 and announced its plan to report earnings for the fourth quarter ended December 31, 2023. The company is a real estate investment trust focused on acquiring, owning, and operating net leased industrial and office properties across the United States.
01/09/2024 - 04:10 PM
MCLEAN, VA / ACCESSWIRE / January 9, 2024 / Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") announced today that its board of directors declared cash distributions for the months of January, February and March 2024 and also announced its plan to report earnings for the fourth quarter ended December 31, 2023.
Cash Distributions:
Common Stock: $0.10 cash distribution per common share for each of January, February and March 2024, payable per Table 1 below. The Company has paid 228 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, the Company paid five consecutive quarterly cash distributions.
Table 1: Summary of common stock cash distributions:
Record Date Payment Date Cash Distribution January 23 January 31 $0.10 February 21 February 29 $0.10 March 21 March 29 $0.10 Total for the Quarter :$0.30
Senior Common Stock: $0.08 75 cash distribution per share of the Company's senior common stock ("Senior Common") for each of January, February and March 2024, payable per Table 2 below. The Company has paid 165 consecutive monthly cash distributions on its Senior Common.
Table 2: Summary of Senior Common cash distributions:
Payable to Holders of Record During the Month of: Payment Date Amount January February 5 $0.08 75February March 5 $0.08 75March April 5 $0.08 75Total for the Quarter :$0.26 25
Series E Preferred Stock: $0.13 8021 cash distribution per share of the Company's 6.625% Series E Preferred Stock ("Series E Preferred Stock") for each of January, February and March 2024, payable per Table 3 below. The Series E Preferred Stock trades on Nasdaq under the symbol "GOODN." The Company has paid 42 consecutive monthly cash distributions on its Series E Preferred Stock.
Table 3: Summary of Series E Preferred Stock cash distributions:
Record Date Payment Date Cash Distribution January 23 January 31 $0.13 8021February 21 February 29 $0.13 8021March 21 March 29 $0.13 8021 Total for the Quarter :$0.41 4063
Series F Preferred Stock: $0.12 5 cash distribution per share of the Company's 6.0% Series F Preferred Stock ("Series F Preferred Stock") for each of January, February and March 2024, payable per Table 4 below. The Series F Preferred Stock is not listed on a national securities exchange.
Table 4: Summary of Series F Preferred Stock cash distributions:
Record Date Payment Date Cash Distribution January 25 February 5 $0.12 5February 27 March 5 $0.12 5March 26 April 5 $0.12 5 Total for the Quarter :$0.37 5
The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders and Series F Preferred stockholders. For more information regarding the DRIP, please visit www.gladstonecommercial.com .
Series G Preferred Stock: $0.12 5 cash distribution per share of the Company's 6.00% Series G Preferred Stock ("Series G Preferred Stock") for each of January, February and March 2024, payable per Table 5 below. The Series G Preferred Stock trades on Nasdaq under the symbol "GOODO."
Table 5: Summary of Series G Preferred Stock cash distributions:
Record Date Payment Date Cash Distribution January 23 January 31 $0.12 5February 21 February 29 $0.12 5March 21 March 29 $0.12 5 Total for the Quarter :$0.37 5
Earnings Announcement:
The Company also announced today that it plans to report earnings for the fourth quarter ended December 31, 2023, after the stock market closes on Wednesday, February 21, 2024. The Company will hold a conference call Thursday, February 22, 2024 at 8:30 a.m. ET to discuss its earnings results. Please call (877) 407-9045 to enter the conference call. An operator will monitor the call and set a queue for questions.
A conference call replay will be available after the call and will be accessible through February 29, 2024. To hear the replay, please dial (877) 660-6853 and use playback conference number 13742738.
The live audio broadcast of the Company's conference call will be available online at www.gladstonecommercial.com .
If you have questions prior to or following the earnings release you may e-mail them to info@gladstonecompanies.com .
Gladstone Commercial Corporation is a real estate investment trust ("REIT") focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of September 30, 2023, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 17.2 million square feet. Additional information can be found at www.gladstonecommercial.com .
Investor Relations Inquiries : Please visit www.gladstonecommercial.com or (703) 287-5893.
SOURCE: Gladstone Commercial Corporation
press release on accesswire.com
What cash distributions did Gladstone Commercial Corporation declare for January, February, and March 2024?
The company declared cash distributions of $0.10 per common share, $0.0875 per share of senior common stock, $0.138021 per share of Series E Preferred Stock, $0.125 per share of Series F Preferred Stock, and $0.125 per share of Series G Preferred Stock.
When will the cash distributions be payable?
The cash distributions will be payable on specific dates in January, February, and March 2024 as indicated in the press release.
What is the plan for reporting earnings for the fourth quarter ended December 31, 2023?
The company plans to report earnings after the stock market closes on February 21, 2024, and will hold a conference call the following day to discuss the results.
What is Gladstone Commercial Corporation's focus as a real estate investment trust?
The company is focused on acquiring, owning, and operating net leased industrial and office properties across the United States.
How many properties does Gladstone Commercial Corporation's real estate portfolio consist of?
As of September 30, 2023, the company's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 17.2 million square feet.
