Gladstone Land Announces Increase in Monthly Cash Distributions For July, August, and September 2018 and Earnings Release and Conference Call Dates for the Second Quarter Ended June 30, 2018
MCLEAN, Va., July 10, 2018 (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 July, August, and September 2018 and also announced its plan to report earnings for the second quarter ended June 30, 2018.
Monthly Cash Distributions:
Common Stock: $0.04435 per share of common stock for each of July, August, and September 2018, payable per the table below:
Summary of Common Stock Cash Distributions
| Record Date | Payment Date | Amount | |
| July 20 | July 31 | $ 0.04435 | |
| August 21 | August 31 | 0.04435 | |
| September 19 | September 28 | 0.04435 | |
| Total for the Quarter: | $ 0.13305 | ||
The Company has paid 65 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 11 times over the prior 42 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 2018, payable per the table below:
Summary of Series A Preferred Stock Cash Distributions
| Record Date | Payment Date | Amount | |
| July 20 | July 31 | $ 0.1328125 | |
| August 21 | August 31 | 0.1328125 | |
| September 19 | September 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 July, August, and September 2018, payable per the table below:
Summary of Series B Preferred Stock Cash Distributions
| Record Date | Payment Date | Amount | |
| July 24 | August 3 | $ 0.125 | |
| August 21 | August 31 | 0.125 | |
| September 25 | October 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 second quarter ended June 30, 2018, after the stock market closes on Wednesday, August 8, 2018. The Company will hold a conference call on Thursday, August 9, 2018, 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 August 16, 2018. To hear the replay, please dial (855) 859-2056 and use playback conference number 22966142.
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, 2018.
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 75 farms, comprised of 63,325 acres in 9 different states across the U.S., valued at approximately $537 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 July 10, 2018