Gladstone Land Announces Increase in Monthly Cash Distributions for January, February, and March 2019
MCLEAN, Va., Jan. 08, 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 January, February, and March 2019.
Monthly Cash Distributions:
Common Stock: $0.04445 per share of common stock for each of January, February, and March 2019, payable per the table below:
Summary of Common Stock Cash Distributions
| Record Date | Payment Date | Amount |
| January 18 | January 31 | $0.04445 |
| February 20 | February 28 | 0.04445 |
| March 20 | March 29 | 0.04445 |
| Total for the Quarter: | $0.13335 | |
The Company has paid 71 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 13 times over the prior 48 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 January, February, and March 2019, payable per the table below:
Summary of Series A Preferred Stock Cash Distributions
| Record Date | Payment Date | Amount |
| January 18 | January 31 | $0.1328125 |
| February 20 | February 28 | $0.1328125 |
| March 20 | March 29 | $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 January, February, and March 2019, payable per the table below:
Summary of Series B Preferred Stock Cash Distributions
| Record Date | Payment Date | Amount |
| January 23 | February 1 | $0.125 |
| February 26 | March 7 | 0.125 |
| March 26 | April 4 | 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.
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 85 farms, comprised of 73,205 acres in 10 different states across the U.S., valued at approximately $618 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.
Source: Gladstone Land Corporation
For further information: Gladstone Land Corporation, +1-703-287-5893
Released January 8, 2019