MCLEAN, VA / ACCESSWIRE / January 14, 2025 / 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 January, February and March 2025.
Monthly Cash Distributions:
Common Stock: $0.0467 per share of common stock for each of January, February and March 2025, payable per the table below:
Summary of Common Stock Cash Distributions
Record Date | Payment Date |
| Amount |
| |
January 24 | January 31 |
| $ | 0.0467 |
|
February 19 | February 28 |
|
| 0.0467 |
|
March 19 | March 31 |
|
| 0.0467 |
|
Total for the Quarter: |
| $ | 0.1401 |
| |
The Company has paid 143 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 35 times over the prior 40 quarters. 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 B Preferred Stock (Nasdaq: LANDO): $0.125 per share of Series B Preferred Stock for each of January, February and March 2025, payable per the table below:
Summary of Series B Preferred Stock Cash Distributions
Record Date | Payment Date |
| Amount |
| |
January 24 | January 31 |
| $ | 0.125 |
|
February 19 | February 28 |
|
| 0.125 |
|
March 19 | March 31 |
|
| 0.125 |
|
Total for the Quarter: |
| $ | 0.375 |
| |
The Company has not skipped, reduced, or deferred a monthly Series B Preferred Stock distribution to date.
Series C Preferred Stock (Nasdaq:LANDP): $0.125 per share of Series C Preferred Stock for each of January, February and March 2025, payable per the table below:
Summary of Series C Preferred Stock Cash Distributions
Record Date | Payment Date |
| Amount |
| |
January 24 | January 31 |
| $ | 0.125 |
|
February 19 | February 28 |
|
| 0.125 |
|
March 19 | March 31 |
|
| 0.125 |
|
Total for the Quarter: |
| $ | 0.375 |
| |
The Company has not skipped, reduced, or deferred a monthly Series C Preferred Stock distribution to date.
Series D Preferred Stock (Nasdaq:LANDM): $0.104167 per share of Series D Preferred Stock for each of January, February and March 2025, payable per the table below:
Summary of Series D Preferred Stock Cash Distributions
Record Date | Payment Date |
| Amount |
| |
January 24 | January 31 |
| $ | 0.104167 |
|
February 19 | February 28 |
|
| 0.104167 |
|
March 19 | March 31 |
|
| 0.104167 |
|
Total for the Quarter: |
| $ | 0.312501 |
| |
The Company has not skipped, reduced, or deferred a monthly Series D Preferred Stock distribution to date.
Series E Preferred Stock (Unlisted): $0.104167 per share of Series E Preferred Stock for each of January, February and March 2025, payable per the table below:
Summary of Series E Preferred Stock Cash Distributions
Record Date | Payment Date |
| Amount |
| |
January 27 | February 5 |
| $ | 0.104167 |
|
February 25 | March 5 |
|
| 0.104167 |
|
March 26 | April 4 |
|
| 0.104167 |
|
Total for the Quarter: |
| $ | 0.312501 |
| |
The Company has not skipped, reduced, or deferred a monthly Series E Preferred Stock distribution to date.
In addition, the Company, in consultation with its Board and external advisers, has determined that the Company's last voluntary publication of NAV per common share will be as of December 31, 2024. The Company has reviewed and analyzed the costs and benefits of the Company's voluntary publication of NAV per share and determined that it is no longer in the best interest of the Company and its shareholders to expend the time and resources necessary to voluntarily calculate a quarterly NAV.
Earnings Announcement:
The Company also announced today that it plans to report earnings for its fourth quarter ended December 31, 2024, after the stock market closes on Wednesday, February 19, 2025. The Company will hold a conference call on Thursday, February 20, 2025, at 8:30 a.m. Eastern Time to discuss its earnings results. Please call (866) 424-3437 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 February 27, 2025. To hear the replay, please dial (877) 660-6853 and use playback conference number 13750257.
The live audio broadcast of the Company's conference call will also be available online at www.GladstoneLand.com.
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, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 157 farms, comprised of over 111,000 acres in 15 different states and nearly 54,000 acre-feet (about 17.6 billion gallons) of water assets in California, valued at a total of approximately $1.5 billion. Additional information can be found at www.GladstoneLand.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.GladstoneCompanies.com.
For further information: Gladstone Land Corporation, (703) 287-5893
SOURCE: Gladstone Land Corporation
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