BLOOMFIELD HILLS, Mich., Sept. 17, 2021 /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 $0.217 per common share. The monthly dividend reflects an annualized dividend amount of $2.604 per common share, representing an 8.5% increase over the annualized dividend amount of $2.400 per common share from the third quarter of 2020. The common dividend is payable October 14, 2021 to stockholders of record at the close of business on September 30, 2021.
Additionally, the Company's Board of Directors has authorized, and the Company has declared, a prorated monthly cash dividend on its 4.25% Series A Cumulative Redeemable Preferred Stock of $0.0413194 per depositary share. The inaugural preferred dividend payment is for less than a full month and covers the period from, and including, September 17, 2021 to, but excluding, October 1, 2021. The dividend is payable October 1, 2021 to stockholders of record at the close of business on September 27, 2021.
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of June 30, 2021, the Company owned and operated a portfolio of 1,262 properties, located in 46 states and containing approximately 26.1 million square feet of gross leasable area. The Company's common stock is listed on the New York Stock Exchange under the symbol "ADC". For additional information on the Company and RETHINKING RETAIL, please visit www.agreerealty.com.
SOURCE Agree Realty Corporation