CORRECTING and REPLACING Gladstone Commercial Announces Common and Preferred Stock Dividends for January, February and March
MCLEAN, Va.--(BUSINESS WIRE)--
Please replace the release dated Jan. 8, 2008 with the following corrected version. The X-Dividend dates for January and March have been changed in all three tables.
The corrected release reads:
GLADSTONE COMMERCIAL ANNOUNCES COMMON AND PREFERRED STOCK DIVIDENDS FOR JANUARY, FEBRUARY AND MARCH
Gladstone Commercial Corp. (NASDAQ:GOOD) (the "Company") announced today that the Board of Directors declared an increase in distributions to $0.125 per common share for each of the months of January, February and March of 2008. The dividends equate to a quarterly dividend of $0.375 and an annual dividend of $1.50 at the current rate. Monthly dividends will be payable per table 1 below.
Gladstone Commercial Corporation offers a Dividend Reinvestment Plan (DRIP) for its common shareholders. For more information regarding this Plan, please visit our website at www.GladstoneCommercial.com.
Table 1: Summary Table for common stock dividends for the Quarter
Ending March 31, 2008:
Declared X-Dividend Record Date Payment Date Amount
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January 8 January 18 January 23 January 31 $0.125
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January 8 February 19 February 21 February 29 $0.125
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January 8 March 18 March 21 March 31 $0.125
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Total for the Quarter Ending March 31, 2008: $0.375
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The Board of Directors declared monthly cash dividends for the Company's 7.75% Series A Cumulative Redeemable Preferred Stock of $0.1614583 for each of the months of January, February and March of 2008. Monthly dividends will be payable per table 2 below. The Series A Preferred Stock trades on the NASDAQ under the symbol "GOODP."
Table 2: Summary Table for Series A Preferred stock dividends for the
Quarter Ending March 31, 2008:
Declared X-Dividend Record Date Payment Date Amount
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January 8 January 18 January 23 January 31 $0.1614583
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January 8 February 19 February 21 February 29 $0.1614583
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January 8 March 18 March 21 March 31 $0.1614583
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Total for the Quarter Ending March 31, 2008: $0.4843749
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The Board of Directors declared monthly cash dividends for the Company's 7.50% Series B Cumulative Redeemable Preferred Stock of $0.15625 for each of the months of January, February and March of 2008. Monthly dividends will be payable per table 3 below. The Series B Preferred Stock trades on the NASDAQ under the symbol "GOODO."
Table 3: Summary Table for Series B Preferred stock dividends for the
Quarter Ending March 31, 2008:
Declared X-Dividend Record Date Payment Date Amount
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January 8 January 18 January 23 January 31 $0.15625
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January 8 February 19 February 21 February 29 $0.15625
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January 8 March 18 March 21 March 31 $0.15625
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Total for the Quarter Ending March 31, 2008: $0.46875
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All tenants are paying as agreed, and all buildings are 100% leased and occupied. The portfolio is performing as expected. Also, we have no investments in sub-prime home mortgages or housing industry.
Gladstone Commercial Corporation is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. Additional information can be found at www.GladstoneCommercial.com.
For further information contact Investor Relations at 703-287-5835.
This press release may include statements that may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements with regard to the future performance of the Company. Words such as "believes," "expects," "estimates," "estimated," "projects" and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements include, among others, those factors listed under the caption "Risk factors" of the Company's Form 10-K for the fiscal year ended December 31, 2006, as filed with the Securities and Exchange Commission ("SEC") on February 27, 2007, and the Company's form 10-Q for the quarter ended March 31, 2007, as filed with the SEC on May 1, 2007. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Gladstone Commercial Corporation
Released January 16, 2008