MCLEAN, VA / ACCESSWIRE / January 9, 2024 / Gladstone Commercial Corporation (NASDAQ:GOOD) (the "Company") announced today that its board of directors declared cash distributions for the months of January, February and March 2024 and also announced its plan to report earnings for the fourth quarter ended December 31, 2023.
Cash Distributions:
Common Stock: $0.10 cash distribution per common share for each of January, February and March 2024, payable per Table 1 below. The Company has paid 228 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, the Company paid five consecutive quarterly cash distributions.
Table 1: Summary of common stock cash distributions:
| Record Date | Payment Date | Cash Distribution |
| January 23 | January 31 | $0.10 |
| February 21 | February 29 | $0.10 |
| March 21 | March 29 | $0.10 |
| Total for the Quarter: | $0.30 |
Senior Common Stock: $0.0875 cash distribution per share of the Company's senior common stock ("Senior Common") for each of January, February and March 2024, payable per Table 2 below. The Company has paid 165 consecutive monthly cash distributions on its Senior Common.
Table 2: Summary of Senior Common cash distributions:
| Payable to Holders of Record During the Month of: | Payment Date | Amount |
| January | February 5 | $0.0875 |
| February | March 5 | $0.0875 |
| March | April 5 | $0.0875 |
| Total for the Quarter: | $0.2625 | |
Series E Preferred Stock: $0.138021 cash distribution per share of the Company's 6.625% Series E Preferred Stock ("Series E Preferred Stock") for each of January, February and March 2024, payable per Table 3 below. The Series E Preferred Stock trades on Nasdaq under the symbol "GOODN." The Company has paid 42 consecutive monthly cash distributions on its Series E Preferred Stock.
Table 3: Summary of Series E Preferred Stock cash distributions:
| Record Date | Payment Date | Cash Distribution |
| January 23 | January 31 | $0.138021 |
| February 21 | February 29 | $0.138021 |
| March 21 | March 29 | $0.138021 |
| Total for the Quarter: | $0.414063 |
Series F Preferred Stock: $0.125 cash distribution per share of the Company's 6.0% Series F Preferred Stock ("Series F Preferred Stock") for each of January, February and March 2024, payable per Table 4 below. The Series F Preferred Stock is not listed on a national securities exchange.
Table 4: Summary of Series F Preferred Stock cash distributions:
| Record Date | Payment Date | Cash Distribution |
| January 25 | February 5 | $0.125 |
| February 27 | March 5 | $0.125 |
| March 26 | April 5 | $0.125 |
| Total for the Quarter: | $0.375 |
The Company offers a dividend reinvestment plan (the "DRIP") to its common stockholders and Series F Preferred stockholders. For more information regarding the DRIP, please visit www.gladstonecommercial.com.
Series G Preferred Stock: $0.125 cash distribution per share of the Company's 6.00% Series G Preferred Stock ("Series G Preferred Stock") for each of January, February and March 2024, payable per Table 5 below. The Series G Preferred Stock trades on Nasdaq under the symbol "GOODO."
Table 5: Summary of Series G Preferred Stock cash distributions:
| Record Date | Payment Date | Cash Distribution |
| January 23 | January 31 | $0.125 |
| February 21 | February 29 | $0.125 |
| March 21 | March 29 | $0.125 |
| Total for the Quarter: | $0.375 |
Earnings Announcement:
The Company also announced today that it plans to report earnings for the fourth quarter ended December 31, 2023, after the stock market closes on Wednesday, February 21, 2024. The Company will hold a conference call Thursday, February 22, 2024 at 8:30 a.m. ET to discuss its earnings results. Please call (877) 407-9045 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 February 29, 2024. To hear the replay, please dial (877) 660-6853 and use playback conference number 13742738.
The live audio broadcast of the Company's conference call will be available online at www.gladstonecommercial.com.
If you have questions prior to or following the earnings release you may e-mail them to info@gladstonecompanies.com.
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. As of September 30, 2023, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 17.2 million square feet. Additional information can be found at www.gladstonecommercial.com.
Investor Relations Inquiries: Please visit www.gladstonecommercial.com or (703) 287-5893.
SOURCE: Gladstone Commercial Corporation
View the original press release on accesswire.com
