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Gladstone Land Announces Increase in Monthly Cash Distributions for October, November and December 2019 and Third Quarter Ended September 30, 2019, Earnings Release and Conference Call Dates

MCLEAN, Va., Oct. 08, 2019 (GLOBE NEWSWIRE) -- Gladstone Land Corporation (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 2019 and also announced its plan to report earnings for the third quarter ended September 30, 2019.

Monthly Cash Distributions:

Common Stock$0.0446 per share of common stock for each of October, November and December 2019, payable per the table below:

Summary of Common Stock Cash Distributions

Record Date Payment Date Amount
October 22 October 31 $ 0.0446
November 19 November 29     0.0446
December 19 December 31     0.0446
Total for the Quarter: $ 0.1338

The Company has paid 80 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 16 times over the prior 57 months.  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 (LANDP):  $0.1328125 per share of Series A Preferred Stock for each of October, November and December 2019, payable per the table below:

Summary of Series A Preferred Stock Cash Distributions

Record Date Payment Date Amount
October 22 October 31 $ 0.1328125
November 19 November 29     0.1328125
December 19 December 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 October, November and December 2019, payable per the table below:

Summary of Series B Preferred Stock Cash Distributions

Record Date Payment Date Amount
October 23 October 31 $ 0.125
November 27 December 5     0.125
December 26 January 3     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.

Earnings Announcement:

The Company also announced today that it plans to report earnings for the third quarter ended September 30, 2019, after the stock market closes on Wednesday, November 6, 2019.  The Company will hold a conference call on Thursday, November 7, 2019, at 8:30 a.m. EST to discuss its earnings results.  Please call (855) 363-1762 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 13, 2019.  To hear the replay, please dial (855) 859-2056 and use playback conference number 2771857.

The live audio broadcast of the Company’s conference call will also be available online at www.GladstoneFarms.com.  The event will be archived and available for replay on the Company’s website through January 6, 2020.

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 97 farms, comprised of approximately 82,000 acres in 10 different states across the U.S., valued at approximately $821 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