Gladstone Commercial Corporation Announces Monthly Cash Distributions for October, November and December, 2014, and Third Quarter Earnings Release and Conference Call Dates
MCLEAN, Va., Oct. 7, 2014 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq:GOOD) (the "Company") announced today that its board of directors declared the following monthly cash distributions and also announced its plan to report earnings for the third quarter ended September 30, 2014:
Cash Distributions:
Common Stock: $0.125 per common share for each of October, November and December, 2014, payable per Table 1 below. The Company has paid 117 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 common stock distribution since inception, over 10 years ago.
| Table 1: Summary of common stock cash distributions: | |||
| Ex-Dividend Date | Record Date | Payment Date | Amount |
| October 20 | October 22 | October 31 | $0.125 |
| November 13 | November 17 | November 26 | $0.125 |
| December 17 | December 19 | December 31 | $0.125 |
| Total for the Quarter: | $0.375 | ||
Senior Common Stock: $0.0875 per share of the Company's senior common stock ("Senior Common") for each of October, November and December, 2014, payable per Table 2 below. The Company has paid 54 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 |
| October | November 7 | $0.0875 |
| November | December 5 | $0.0875 |
| December | January 8 | $0.0875 |
| Total for the Quarter: | $0.2625 | |
Series A Preferred Stock: $0.1614583 per share of the Company's 7.75% Series A Cumulative Redeemable Preferred Stock ("Series A Preferred Stock") for each of October, November and December, 2014, payable per Table 3 below. The Series A Preferred Stock trades on the NASDAQ under the symbol "GOODP." The Company has paid 105 consecutive monthly cash distributions on its Series A Preferred Stock. The Company has never skipped, reduced or deferred a monthly Series A Preferred Stock distribution.
| Table 3: Summary of Series A Preferred Stock cash distributions: | |||
| Ex-Dividend Date | Record Date | Payment Date | Amount |
| October 20 | October 22 | October 31 | $0.1614583 |
| November 13 | November 17 | November 26 | $0.1614583 |
| December 17 | December 19 | December 31 | $0.1614583 |
| Total for the Quarter: | $0.4843749 | ||
Series B Preferred Stock: $0.15625 per share of the Company's 7.50% Series B Cumulative Redeemable Preferred Stock ("Series B Preferred Stock") for each of October, November and December, 2014, payable per Table 4 below. The Series B Preferred Stock trades on the NASDAQ under the symbol "GOODO." The Company has paid 96 consecutive monthly cash distributions on its Series B Preferred Stock. The Company has never skipped, reduced or deferred a monthly Series B Preferred Stock distribution.
| Table 4: Summary of Series B Preferred Stock cash distributions: | |||
| Ex-Dividend Date | Record Date | Payment Date | Amount |
| October 20 | October 22 | October 31 | $0.15625 |
| November 13 | November 17 | November 26 | $0.15625 |
| December 17 | December 19 | December 31 | $0.15625 |
| Total for the Quarter: | $0.46875 | ||
Series C Preferred Stock: $0.1484375 per share of the Company's 7.125% Series C Term Preferred Stock ("Series C Term Preferred Stock") for each of October, November and December, 2014, payable per Table 5 below. The Series C Term Preferred Stock trades on the NASDAQ under the symbol "GOODN." The Company has paid 32 consecutive monthly cash distributions on its Series C Term Preferred Stock. The Company has never skipped, reduced or deferred a monthly Series C Preferred Stock distribution.
| Table 5: Summary of Series C Term Preferred Stock cash distributions: | |||
| Ex-Dividend Date | Record Date | Payment Date | Amount |
| October 20 | October 22 | October 31 | $0.1484375 |
| November 13 | November 17 | November 26 | $0.1484375 |
| December 17 | December 19 | December 31 | $0.1484375 |
| Total for the Quarter: | $0.4453125 | ||
The Company offers a dividend reinvestment plan (the "DRIP") to its common 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 third quarter ended September 30, 2014, after the stock market closes on Wednesday, October 29, 2014. The Company will hold a conference call Thursday, October 30, 2014, 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 November 29, 2014. To hear the replay, please dial (855) 859-2056 and use playback conference number 61613172.
The live audio broadcast of the Company's conference call will be available online at www.gladstonecommercial.com. The event will be archived and available for replay on the Company's website through December 29, 2014.
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") that invests in and owns net leased industrial, commercial and retail real property and selectively makes long-term industrial and commercial mortgage loans. The Company currently owns 94 properties. Additional information can be found at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
CONTACT: For further information:
Gladstone Commercial Corporation, +1 703-287-5893
Released October 7, 2014