Increase Results in 1.6% Month-Over-Month Growth and 2.9% Year-Over-Year Growth
ROYAL OAK, Mich., Oct. 12, 2023 /PRNewswire/ — Agree Realty Corporation (NYSE:ADC) (the “Company”) today announced that its Board of Directors has authorized, and the Company has declared, a monthly cash dividend of $0.247 per common share. The monthly dividend reflects an annualized dividend amount of $2.964 per common share, representing a 2.9% increase over the annualized dividend amount of $2.880 per common share from the fourth quarter of 2022. The dividend is payable November 14, 2023 to stockholders of record at the close of business on October 31, 2023.
Additionally, the Company’s Board of Directors has authorized, and the Company has declared, a monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.08854 per depositary share, which is equivalent to $1.0625 per annum. The dividend is payable November 1, 2023 to stockholders of record at the close of business on October 20, 2023.
