Gladstone Commercial Corporation Announces Monthly Cash Distributions for July, August and September, 2014, and Second Quarter Earnings Release and Conference Call Dates
MCLEAN, Va., July 15, 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 second quarter ended June 30, 2014:
Cash Distributions:
Common Stock: $0.125 per common share for each of July, August and September, 2014, payable per Table 1 below. The Company has paid 114 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 |
| July 23 | July 25 | August 5 | $0.125 |
| August 18 | August 20 | August 29 | $0.125 |
| September 17 | September 19 | September 30 | $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 July, August and September, 2014, payable per Table 2 below. The Company has paid 51 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 |
| July | August 7 | $0.0875 |
| August | September 8 | $0.0875 |
| September | October 7 | $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 July, August and September, 2014, payable per Table 3 below. The Series A Preferred Stock trades on the NASDAQ under the symbol "GOODP." The Company has paid 102 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 |
| July 23 | July 25 | August 5 | $0.1614583 |
| August 18 | August 20 | August 29 | $0.1614583 |
| September 17 | September 19 | September 30 | $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 July, August and September, 2014, payable per Table 4 below. The Series B Preferred Stock trades on the NASDAQ under the symbol "GOODO." The Company has paid 93 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 |
| July 23 | July 25 | August 5 | $0.15625 |
| August 18 | August 20 | August 29 | $0.15625 |
| September 17 | September 19 | September 30 | $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 July, August and September, 2014, payable per Table 5 below. The Series C Term Preferred Stock trades on the NASDAQ under the symbol "GOODN." The Company has paid 29 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 |
| July 23 | July 25 | August 5 | $0.1484375 |
| August 18 | August 20 | August 29 | $0.1484375 |
| September 17 | September 19 | September 30 | $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 second quarter ended June 30, 2014, after the stock market closes on Tuesday, July 29, 2014. The Company will hold a conference call Wednesday, July 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 August 30, 2014. To hear the replay, please dial (855) 859-2056 and use playback conference number 61572701.
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 September 30, 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 93 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: Gladstone Commercial Corporation, +1 703-287-5893
Released July 15, 2014