Gladstone Land Corporation Announces Initial Cash Distribution for 6.375% Series A Cumulative Term Preferred Stock
MCLEAN, Va., Sept. 12, 2016 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (NASDAQ:LAND) (the “Company”) announced today that its board of directors declared the following initial cash distribution for its newly issued 6.375% Series A Cumulative Term Preferred Stock (the “Series A Preferred Stock”):
Cash Distribution:
Series A Preferred Stock: $0.190364583 per share of Series A Preferred Stock representing the cumulative dividend from (but excluding) the date of original issuance through the month ending September 30, 2016.
| Summary of Series A Preferred Stock Cash Distribution: | ||||||||
| Ex-Dividend Date | Record Date | Payment Date | Amount | |||||
| September 19 | September 21 | September 30 | $ | 0.190364583 | ||||
This represents the first cash distribution payment to holders of the Company’s Series A Preferred Stock. The Company has paid 42 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013.
About Gladstone Land:
Gladstone Land Corporation is a publicly-traded agricultural real estate investment trust that owns farmland and farm-related properties located in major agricultural markets in the United States that it leases to corporate and independent farmers. The Company currently owns 54 farms, comprised of 31,313 acres in 7 different states across the U.S., valued at approximately $350 million. Information on the business activities of all of the Gladstone funds can be found at www.gladstonecompanies.com.
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 September 12, 2016