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Jan 14, 2020

Gladstone Land Announces Increase in Monthly Cash Distributions for January, February, and March 2020

MCLEAN, Va., Jan. 14, 2020 (GLOBE NEWSWIRE) -- MCLEAN, Va., January 14, 2020Gladstone 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 2020.

Monthly Cash Distributions:

Common Stock$0.04465 per share of common stock for each of January, February, and March 2020, payable per the table below:

Summary of Common Stock Cash Distributions

Record Date Payment Date Amount
January 24 January 31 $ 0.04465
February 19 February 28   0.04465
March 20 March 31   0.04465
Total for the Quarter: $ 0.13395
     

The Company has paid 83 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 17 times over the prior 20 quarters.  The Company offers a dividend reinvestment plan (the “DRIP”) to its common stockholders.  For more information regarding the DRIP, please visit www.GladstoneFarms.com.

Series A Preferred Stock (Nasdaq: LANDP):  $0.1328125 per share of Series A Preferred Stock for each of January, February, and March 2020, payable per the table below:

Summary of Series A Preferred Stock Cash Distributions

Record Date Payment Date Amount
January 24 January 31 $ 0.1328125
February 19 February 28   0.1328125
March 20 March 31   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.

Series B Preferred Stock (Unlisted):  $0.125 per share of Series B Preferred Stock for each of January, February and March 2020, payable per the table below:

Summary of Series B Preferred Stock Cash Distributions

Record Date Payment Date Amount
January 22 January 31 $ 0.125
February 26 March 4   0.125
March 25 April 1   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.

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 111 farms, comprised of approximately 87,000 acres in 10 different states across the U.S., valued at approximately $876 million.  Additional information can be found at 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

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Source: Gladstone Land Corporation