MCLEAN, Va., July 9, 2013 /PRNewswire/ -- Gladstone Land Corporation (NASDAQ: LAND) (the "Company") announced today that its board of directors declared the following monthly cash distributions:

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Common Stock: $0.12 per share of common stock for each of July, August and September 2013, payable per the table below. The Company has paid five consecutive monthly cash distributions on its common stock.

Summary of Common Stock Cash Distributions:

A portion of the dividends declared above and paid out during the quarter-ended June 30, 2013, relates to the $9.1 million of accumulated earnings and profits from prior years to be paid out by the end of 2013.  We will provide break out the accumulated earnings and profits from prior years and the earnings for 2013 in a 1099 form to be provided in January 2014.

The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders.  For more information regarding the DRIP, please visit www.gladstoneland.com.

Gladstone Land Corporation is a publicly-traded real estate investment company 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 fourteen farms appraised at approximately $79.9 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.

SOURCE Gladstone Land Corporation