Gladstone Commercial Corporation Announces Monthly Cash Distributions for April, May and June 2020 and First Quarter Ended Ma...
15 April 2020 - 6:30AM
Gladstone Commercial Corporation (Nasdaq: GOOD) (the “Company”)
announced today that its board of directors declared cash
distributions for the months of April, May and June 2020 and also
announced its plan to report earnings for the first quarter ended
March 31, 2020.
Cash Distributions:
Common Stock: $0.12515 cash
distribution per common share for each of April, May and June 2020,
payable per Table 1 below. The Company has paid 183 consecutive
monthly cash distributions on its common stock. Prior to paying
distributions on a monthly basis, the Company paid five consecutive
quarterly cash distributions. The Company has never skipped,
reduced or deferred a monthly or quarterly common stock
distribution since its inception in 2003.
Table 1: Summary of common stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
April 24 |
April 30 |
$0.12515 |
May 19 |
May 29 |
$0.12515 |
June 19 |
June 30 |
$0.12515 |
|
Total for the Quarter: |
$0.37545 |
Senior Common Stock: $0.0875
cash distribution per share of the Company’s senior common stock
(“Senior Common”) for each of April, May and June 2020, payable per
Table 2 below. The Company has paid 120 consecutive monthly cash
distributions on its Senior Common. The Company has never skipped,
reduced or deferred a monthly Senior Common distribution.
Table 2: Summary of Senior Common cash
distributions:
Payable to Holders of Record During the Month
of: |
Payment Date |
Amount |
April |
May 6 |
$0.0875 |
May |
June 5 |
$0.0875 |
June |
July 6 |
$0.0875 |
|
Total for the Quarter: |
$0.2625 |
Series D Preferred Stock:
$0.1458333 cash distribution per share of the Company’s 7.0% Series
D Preferred Stock (“Series D Preferred Stock”) for each of April,
May and June 2020, payable per Table 3 below. The Series D
Preferred Stock trades on Nasdaq under the symbol “GOODM.” The
Company has paid 47 consecutive monthly cash distributions on its
Series D Preferred Stock. The Company has never skipped, reduced or
deferred a monthly Series D Preferred Stock distribution.
Table 3: Summary of Series D Preferred Stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
April 24 |
April 30 |
$0.1458333 |
May 19 |
May 29 |
$0.1458333 |
June 19 |
June 30 |
$0.1458333 |
|
Total for the Quarter: |
$0.4374999 |
Series E Preferred Stock:
$0.138021 cash distribution per share of the Company’s 6.625%
Series E Preferred Stock (“Series E Preferred Stock”) for each of
April, May and June 2020, payable per Table 4 below. The Series E
Preferred Stock trades on Nasdaq under the symbol “GOODN.”
The Company has never skipped, reduced or deferred a monthly Series
E Preferred Stock distribution.
Table 4: Summary of Series E Preferred Stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
April 24 |
April 30 |
$0.138021 |
May 19 |
May 29 |
$0.138021 |
June 19 |
June 30 |
$0.138021 |
|
Total for the Quarter: |
$0.414063 |
Series F Preferred Stock:
$0.125 cash distribution per share of the Company’s 6.00% Series F
Preferred Stock (“Series F Preferred Stock”) for each of April, May
and June 2020, payable per Table 5 below. The Series F Preferred
Stock is not listed on a national securities exchange. The
Company has never skipped, reduced or deferred a monthly Series F
Preferred Stock distribution.
Table 5: Summary of Series F Preferred Stock cash
distributions:
Record Date |
Payment Date |
Cash Distribution |
April 29 |
May 5 |
$0.125 |
May 28 |
June 5 |
$0.125 |
June 25 |
July 2 |
$0.125 |
|
Total for the Quarter: |
$0.375 |
The Company offers a dividend reinvestment plan
(the “DRIP”) to its common stockholders and Series F Preferred
stockholders. For more information regarding the DRIP, please visit
www.gladstonecommercial.com.
Earnings Announcement:
The Company also announced today that it plans
to report earnings for the first quarter ended March 31, 2020,
after the stock market closes on Tuesday, April 28, 2020. The
Company will hold a conference call Wednesday, April 29, 2020 at
8:30 a.m. EDT to discuss its earnings results. Please call
(888) 734-0328 to enter 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 May 6, 2020. To hear the
replay, please dial (855) 859-2056 and use playback conference
number 6585267.
The live audio broadcast of the Company’s
conference call will be available online at
www.gladstonecommercial.com. The event will also be archived and
available for replay on the Company’s website through June 29,
2020.
If you have questions prior to or following the
earnings release you may e-mail them to
info@gladstonecompanies.com.
Gladstone Commercial Corporation is a real
estate investment trust (“REIT”) focused on acquiring, owning and
operating net leased industrial and office properties across the
United States. As of December 31, 2019, Gladstone Commercial’s real
estate portfolio consisted of 118 properties located in 28 states,
totaling approximately 14.2 million square feet. Additional
information can be found at www.gladstonecompanies.com.
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