Apr. 22 at 8:19 PM
$ADC Agree Realty increases dividend 2.4% to 25.3c
Agree Realty declared a monthly cash dividend of 25.3c per common share for each of January, February and March. The monthly dividends declared during the Q1 reflect an annualized dividend amount of
$3.036 per common share, representing a 2.4% increase over the annualized dividend amount of
$2.964 per common share from the Q1 of 2024. The dividends represent payout ratios of approximately 73% of Core FFO per share and 72% of AFFO per share, respectively.
Subsequent to quarter end, the Company declared an increased monthly cash dividend of 25.6c per common share for April. The April monthly dividend reflects an annualized dividend amount of
$3.072 per common share, representing a 2.4% increase over the annualized dividend amount of
$3.00 per common share from the second quarter of 2024. The April dividend is payable on May 14 to stockholders of record at the close of business on April 30.
Additionally, subsequent to quarter end, the Company declared a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of 8.854c per depositary share, which is equivalent to
$1.0625 per annum. The dividend is payable on May 1 to stockholders of record at the close of business on April 21.
