Benzinga | Oct 12, 2021 04:14PM EDT

Gladstone Land Announces Increase To Monthly Cash Distributions For Oct., Nov., And Dec.

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 October, November and December 2021.

Monthly Cash Distributions:

Common Stock: $0.0452 per share of common stock for each of October, November and December 2021, payable per the table below:

Summary of Common Stock Cash Distributions

Record Date Payment Date Amount

October 22 October 29 $ 0.0452

November 19 November 30 0.0452

December 23 December 31 0.0452

Total for the Quarter: $ 0.1356

The Company has paid 104 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 24 times over the prior 27 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 October, November and December 2021, payable per the table below:

Summary of Series B Preferred Stock Cash Distributions

Record Date Payment Date Amount

October 22 October 29 $ 0.125

November 19 November 30 0.125

December 23 December 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 (Unlisted): $0.125 per share of Series C Preferred Stock for each of October, November and December 2021, payable per the table below:

Summary of Series C Preferred Stock Cash Distributions

Record Date Payment Date Amount

October 28 November 5 $ 0.125

November 29 December 6 0.125

December 29 January 5 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 October, November and December 2021, payable per the table below:

Summary of Series D Preferred Stock Cash Distributions

Record Date Payment Date Amount

October 22 October 29 $ 0.104167

November 19 November 30 0.104167

December 23 December 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.

Earnings Announcement:

The Company also announced today that it plans to report earnings for its third quarter ended September 30, 2021, after the stock market closes on Tuesday, November 9, 2021. The Company will hold a conference call on Wednesday, November 10, 2021, at 8:30 a.m. EST to discuss its earnings results. Please call (877) 407-9046 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 November 17, 2021. To hear the replay, please dial (877) 660-6853 and use playback conference number 13722591.

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 currently owns 159 farms, comprised of over 108,000 acres in 14 different states and 45,000 acre-feet of banked water in California, valued at approximately $1.4 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, +1-703-287-5893

SOURCE: Gladstone Land Corporation