Gladstone Land Announces Monthly Cash Distributions for July, August and September 2017 and Announces Earnings Release and Conference Call Dates for the Second Quarter Ended June 30, 2017
MCLEAN, Va., July 11, 2017 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (NASDAQ:LAND) (the “Company”) announced today that its board of directors declared the following cash distributions for each of July, August and September 2017 and also announced its plan to report earnings for the second quarter ending June 30, 2017.
Monthly Cash Distributions:
Common Stock: $0.0440 per share of common stock for each of July, August and September 2017, representing a 1.1% increase over the prior quarter, payable per the table below:
Summary of Common Stock Cash Distributions
| Ex-Dividend Date | Record Date | Payment Date | Amount | |
| July 19 | July 21 | July 31 | $ | 0.0440 |
| August 17 | August 21 | August 31 | 0.0440 | |
| September 18 | September 20 | September 29 | 0.0440 | |
| Total for the Quarter: | $ | 0.1320 | ||
The Company has paid 53 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions seven times over the prior 30 months. The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders; for more information regarding the DRIP, please visit www.GladstoneLand.com.
Series A Preferred Stock (NASDAQ:LANDP): $0.1328125 per share of Series A Preferred Stock for each of July, August and September 2017, payable per the table below:
Summary of Series A Preferred Stock Cash Distributions
| Ex-Dividend Date | Record Date | Payment Date | Amount | |
| July 19 | July 21 | July 31 | $ | 0.1328125 |
| August 17 | August 21 | August 31 | 0.1328125 | |
| September 18 | September 20 | September 29 | 0.1328125 | |
| Total for the Quarter: | $ | 0.3984375 | ||
The Company has never skipped, reduced or deferred a monthly Series A Preferred Stock distribution.
Earnings Announcement:
The Company also announced today that it plans to report earnings for the second quarter ending June 30, 2017, after the stock market closes on Tuesday, August 8, 2017. The Company will hold a conference call Wednesday, August 9, 2017, at 8:30 a.m. EDT to discuss its earnings results. Please call (855) 363-1762 to join 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 September 9, 2017. To hear the replay, please dial (855) 859-2056 and use playback conference number 54433981.
The live audio broadcast of the Company’s conference call will also be available online at www.GladstoneLand.com. The event will be archived and available for replay on the Company’s website through October 9, 2017.
About Gladstone Land:
Gladstone Land is a publicly-traded real estate investment trust that invests in farmland located in major agricultural markets in the U.S., which it leases to farmers. The Company currently owns 65 farms, comprised of 57,930 acres in 8 different states across the U.S., valued at approximately $490 million. Additional information can be found at www.GladstoneLand.com and www.GladstoneFarms.com.
For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit www.Gladstone.com.
For further information: Gladstone Land Corporation, +1-703-287-5893
Released July 11, 2017