Gladstone Land Increases its Monthly Cash Distributions and Announces Third Quarter Earnings Release and Conference Call Dat...
12 10월 2016 - 5:05AM
Gladstone Land Corporation (NASDAQ:LAND) (the “Company”) announced
a 3.0% increase in its monthly cash distribution on its common
stock, beginning with the months of October, November and December
2016, its second such increase during 2016. The Company also
declared monthly cash distributions on its 6.375% Series A
Cumulative Term Preferred Stock (the “Series A Preferred Stock”)
for each of October, November and December 2016 and announced its
plan to report earnings for the third quarter ended September 30,
2016.
“Our goal is to increase cash distributions to keep up with, or
stay ahead of, inflation,” said David Gladstone, President and CEO
of the Company. “Given that inflation generally decreases the
buying power of the dollar, we believe in increasing our
distributions to maintain or increase the purchasing power derived
from our cash distributions. While there can be no guarantee
that we will be able to achieve this goal every year, this is our
plan. We further believe that the farms we own will increase
in value at a rate that outpaces that of inflation, and we believe
our stockholders will be able to see this through a gradual
increase in our net asset value, which we publish each
quarter.”
Cash Distributions:
Common Stock: $0.0425 per share of common stock for each
of October, November and December 2016, payable per the table
below:
Summary of Common Stock Cash
Distributions: |
Ex-Dividend Date |
Record Date |
Payment Date |
Amount |
October
19 |
October
21 |
October
31 |
$ |
0.0425 |
|
November
15 |
November
17 |
November
30 |
|
0.0425 |
|
December
16 |
December
20 |
December
30 |
|
0.0425 |
|
Total for the Quarter: |
$ |
0.1275 |
|
The Company has paid 44 consecutive monthly cash distributions
on its common stock since its initial public offering in January
2013. 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 October, November and
December 2016, payable per the table below:
Summary of Series A Preferred Stock Cash
Distributions: |
Ex-Dividend Date |
Record Date |
Payment Date |
Amount |
October
19 |
October
21 |
October
31 |
$ |
0.1328125 |
|
November
15 |
November
17 |
November
30 |
|
0.1328125 |
|
December
16 |
December
20 |
December
30 |
|
0.1328125 |
|
Total for the Quarter: |
$ |
0.3984375 |
|
Earnings Announcement:
The Company also announced today that it plans to report
earnings for the third quarter ended September 30, 2016, after the
stock market closes on Monday, November 14, 2016. The Company
will hold a conference call Tuesday, November 15, 2016, at 8:30
a.m. EST 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 December 15, 2016. To hear the
replay, please dial (855) 859-2056 and use playback conference
number 46698640.
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 January 15, 2017.
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 56 farms,
comprised of 33,800 acres in 7 different states across the U.S.,
valued at approximately $377 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.
All statements contained in this press release, other than
historical facts, may constitute "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Words such as "anticipates," "expects," "intends,"
"plans," "believes," "seeks," "estimates" and variations of the
foregoing words and similar expressions are intended to identify
forward-looking statements. Readers should not rely upon
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could
cause the Company's business, financial condition, liquidity,
results of operations, funds from operations or prospects to differ
materially from those expressed in or implied by such statements.
Such risks and uncertainties are disclosed under the caption
"Risk Factors" of the Company's Annual Report on Form 10-K for the
fiscal year ended December 31, 2015, as filed with the SEC on
February 23, 2016. The Company cautions readers not to place
undue reliance on any such forward-looking statements, which speak
only as of the date made. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
For further information: Gladstone Land Corporation, +1-703-287-5893
Gladstone Land (NASDAQ:LAND)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Gladstone Land (NASDAQ:LAND)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024