Gladstone Land Announces Increase in Monthly Cash Distributions for April, May, and June 2019 and First Quarter Ended March 31, 2019, Earnings Release and Conference Call Dates
MCLEAN, Va., April 09, 2019 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (NASDAQ: LAND) (“Gladstone Land” or the “Company”) announced today that its board of directors declared the following cash distributions for each of April, May, and June 2019 and also announced its plan to report earnings for the first quarter ended March 31, 2019.
Monthly Cash Distributions:
Common Stock: $0.0445 per share of common stock for each of April, May, and June 2019, payable per the table below:
Summary of Common Stock Cash Distributions
| Record Date | Payment Date | Amount | ||
| April 22 | April 30 | $ | 0.0445 | |
| May 22 | May 31 | 0.0445 | ||
| June 19 | June 28 | 0.0445 | ||
|
Total for the Quarter: |
$ | 0.1335 | ||
The Company has paid 74 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 14 times over the prior 51 months. The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders. For more information regarding the DRIP, please visit www.GladstoneFarms.com.
Series A Preferred Stock (NASDAQ: LANDP): $0.1328125 per share of Series A Preferred Stock for each of April, May, and June 2019, payable per the table below:
Summary of Series A Preferred Stock Cash Distributions
| Record Date | Payment Date | Amount | ||
| April 22 | April 30 | $ | 0.1328125 | |
| May 22 | May 31 | 0.1328125 | ||
| June 19 | June 28 | 0.1328125 | ||
|
Total for the Quarter: |
$ | 0.3984375 | ||
The Company has not skipped, reduced, or deferred a monthly Series A Preferred Stock distribution to date.
Series B Preferred Stock (Unlisted): $0.125 per share of Series B Preferred Stock for each of April, May, and June 2019, payable per the table below:
Summary of Series B Preferred Stock Cash Distributions
| Record Date | Payment Date | Amount | ||
| April 24 | May 3 | $ | 0.125 | |
| May 22 | May 31 | 0.125 | ||
| June 26 | July 5 | 0.125 | ||
|
Total for the Quarter: |
$ | 0.375 | ||
The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.
Earnings Announcement:
The Company also announced today that it plans to report earnings for the first quarter ended March 31, 2019, after the stock market closes on Tuesday, May 7, 2019. The Company will hold a conference call on Wednesday, May 8, 2019, 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 May 15, 2019. To hear the replay, please dial (855) 859-2056 and use playback conference number 9886778.
The live audio broadcast of the Company’s conference call will also be available online at www.GladstoneFarms.com. The event will be archived and available for replay on the Company’s website through July 8, 2019.
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 86 farms, comprised of 73,900 acres in 10 different states across the U.S., valued at approximately $620 million. Additional information can be found at 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.
Source: Gladstone Land Corporation
For further information: Gladstone Land Corporation, +1-703-287-5893
Released April 9, 2019