MCLEAN, VA / ACCESSWIRE / April 9, 2024 / Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company") announced today that its board of directors declared cash distributions for the months of April, May and June 2024 and also announced its plan to report earnings for the first quarter ended March 31, 2024.
Cash Distributions:
Common Stock: $0.10 cash distribution per common share for each of April, May and June 2024, payable per Table 1 below. The Company has paid 231 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 |
April 19 | April 30 | $0.10 |
May 17 | May 31 | $0.10 |
June 19 | June 28 | $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 April, May and June 2024, payable per Table 2 below. The Company has paid 168 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 |
April | May 6 | $0.0875 |
May | June 5 | $0.0875 |
June | July 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 April, May and June 2024, payable per Table 3 below. The Series E Preferred Stock trades on Nasdaq under the symbol "GOODN." The Company has paid 45 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 |
April 19 | April 30 | $0.138021 |
May 17 | May 31 | $0.138021 |
June 19 | June 28 | $0.138021 |
Total for the Quarter: | $0.414063 |
Series F Preferred Stock: $0.125 cash distribution per share of the Company's 6.00% Series F Preferred Stock ("Series F Preferred Stock") for each of April, May and June 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 |
April 22 | May 3 | $0.125 |
May 23 | June 5 | $0.125 |
June 25 | July 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 April, May and June 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 |
April 19 | April 30 | $0.125 |
May 17 | May 31 | $0.125 |
June 19 | June 28 | $0.125 |
Total for the Quarter: | $0.375 |
Earnings Announcement:
The Company also announced today that it plans to report earnings for the first quarter ended March 31, 2024, after the stock market closes on Monday, May 6, 2024. The Company will hold a conference call Tuesday, May 7, 2024 at 8:30 a.m. ET to discuss its earnings results. Please call (877) 424-3437 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 14, 2024. To hear the replay, please dial (877) 660-6853 and use playback conference number 13744828.
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 December 31, 2023, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 17.1 million square feet. Additional information can be found at www.gladstonecommercial.com.
Source: Gladstone Commercial Corporation
Investor Relations Inquiries: Please visit www.gladstonecommercial.com or (703) 287-5893.
SOURCE: Gladstone Commercial Corporation
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