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MCLEAN, Va., April 12, 2016 -- Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”) announced today that its board of directors declared the following monthly cash distributions and also announced its plan to report earnings for the first quarter ended March 31, 2016:
Cash Distributions:
Common Stock: $0.125 cash distribution per common share for each of April, May and June, 2016, payable per Table 1 below. The Company has paid 135 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, the Company paid five consecutive quarterly cash distributions. The Company has never skipped, reduced or deferred a monthly common stock distribution since inception, over 10 years ago.
| Table 1: Summary of common stock cash distributions: | ||||||||||
| Ex-Dividend Date | Record Date | Payment Date | Amount | |||||||
| April 20 | April 22 | May 2 | $ | 0.125 | ||||||
| May 17 | May 19 | May 31 | $ | 0.125 | ||||||
| June 15 | June 17 | June 30 | $ | 0.125 | ||||||
| Total for the Quarter: | $ | 0.375 | ||||||||
Senior Common Stock: $0.0875 cash distribution per share of the Company’s senior common stock (“Senior Common”) for each of April, May and June, 2016, payable per Table 2 below. The Company has paid 72 consecutive monthly cash distributions on its Senior Common. The Company has never skipped, reduced or deferred a monthly Senior Common distribution.
| Table 2: Summary of Senior Common cash distributions: | ||||||
| Payable to Holders of Record During the Month of: | Payment Date | Amount | ||||
| April | May 6 | $ | 0.0875 | |||
| May | June 7 | $ | 0.0875 | |||
| June | July 8 | $ | 0.0875 | |||
| Total for the Quarter: | $ | 0.2625 | ||||
Series A Preferred Stock: $0.1614583 cash distribution per share of the Company’s 7.75% Series A Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) for each of April, May and June, 2016, payable per Table 3 below. The Series A Preferred Stock trades on the NASDAQ under the symbol “GOODP.” The Company has paid 123 consecutive monthly cash distributions on its Series A Preferred Stock. The Company has never skipped, reduced or deferred a monthly Series A Preferred Stock distribution.
| Table 3: Summary of Series A Preferred Stock cash distributions: | ||||||||
| Ex-Dividend Date | Record Date | Payment Date | Amount | |||||
| April 20 | April 22 | May 2 | $ | 0.1614583 | ||||
| May 17 | May 19 | May 31 | $ | 0.1614583 | ||||
| June 15 | June 17 | June 30 | $ | 0.1614583 | ||||
| Total for the Quarter: | $ | 0.4843749 | ||||||
Series B Preferred Stock: $0.15625 cash distribution per share of the Company’s 7.50% Series B Cumulative Redeemable Preferred Stock (“Series B Preferred Stock”) for each of April, May and June, 2016, payable per Table 4 below. The Series B Preferred Stock trades on the NASDAQ under the symbol “GOODO.” The Company has paid 114 consecutive monthly cash distributions on its Series B Preferred Stock. The Company has never skipped, reduced or deferred a monthly Series B Preferred Stock distribution.
| Table 4: Summary of Series B Preferred Stock cash distributions: | |||||||
| Ex-Dividend Date | Record Date | Payment Date | Amount | ||||
| April 20 | April 22 | May 2 | $ | 0.15625 | |||
| May 17 | May 19 | May 31 | $ | 0.15625 | |||
| June 15 | June 17 | June 30 | $ | 0.15625 | |||
| Total for the Quarter: | $ | 0.46875 | |||||
Series C Preferred Stock: $0.1484375 cash distribution per share of the Company’s 7.125% Series C Term Preferred Stock (“Series C Term Preferred Stock”) for each of April, May and June, 2016, payable per Table 5 below. The Series C Term Preferred Stock trades on the NASDAQ under the symbol “GOODN.” The Company has paid 50 consecutive monthly cash distributions on its Series C Term Preferred Stock. The Company has never skipped, reduced or deferred a monthly Series C Preferred Stock distribution.
| Table 5: Summary of Series C Term Preferred Stock cash distributions: | ||||||||||
| Ex-Dividend Date | Record Date | Payment Date | Amount | |||||||
| April 20 | April 22 | May 2 | $ | 0.1484375 | ||||||
| May 17 | May 19 | May 31 | $ | 0.1484375 | ||||||
| June 15 | June 17 | June 30 | $ | 0.1484375 | ||||||
| Total for the Quarter: | $ | 0.4453125 | ||||||||
The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders. For more information regarding the DRIP, please visit www.gladstonecommercial.com.
Earnings Announcement:
The Company also announced today that it plans to report earnings for the first quarter ended March 31, 2016, after the stock market closes on Wednesday, April 27, 2016. The Company will hold a conference call Thursday, April 28, at 8:30 a.m. EDT to discuss its earnings results. Please call (888) 734-0328 to enter 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 28, 2016. To hear the replay, please dial (855) 859-2056 and use playback conference number 29151894.
The live audio broadcast of the Company’s conference call will be available online at www.gladstonecommercial.com. The event will also be archived and available for replay on the Company’s website through June 28, 2016.
If you have questions prior to or following the earnings release you may e-mail them to [email protected].
Gladstone Commercial Corporation is a real estate investment trust (“REIT”) focused on acquiring, owning and operating net leased industrial and office properties across the United States. The Company currently owns 99 properties. Additional information 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 Commercial Corporation, +1 703-287-5893
