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MCLEAN, Va., April 10, 2018 -- 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 2018 and also announced its plan to report earnings for the first quarter ended March 31, 2018.
Monthly Cash Distributions:
Common Stock: $0.0443 per share of common stock for each of April, May, and June 2018, representing a 0.1% increase over the prior quarter, payable per the table below:
| Summary of Common Stock Cash Distributions | |||
| Record Date | Payment Date | Amount | |
| April 20 | April 30 | $ | 0.0443 |
| May 22 | May 31 | 0.0443 | |
| June 20 | June 29 | 0.0443 | |
| Total for the Quarter: | $ | 0.1329 | |
The Company has paid 62 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 10 times over the prior 39 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 April, May, and June 2018, payable per the table below:
| Summary of Series A Preferred Stock Cash Distributions | |||
| Record Date | Payment Date | Amount | |
| April 20 | April 30 | $ | 0.1328125 |
| May 22 | May 31 | 0.1328125 | |
| June 20 | June 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.
Earnings Announcement:
The Company also announced today that it plans to report earnings for the first quarter ended March 31, 2018, after the stock market closes on Tuesday, May 8, 2018. The Company will hold a conference call on Wednesday, May 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 May 16, 2018. To hear the replay, please dial (855) 859-2056 and use playback conference number 54444665.
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 July 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 63,351 acres in 9 different states across the U.S., valued at approximately $538 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
