Gladstone Commercial Corporation Announces Monthly Cash Distributions for October, November and December 2017, and Third Quarter Ended September 30, 2017 Earnings Release and Conference Call Dates
MCLEAN, Va., Oct. 10, 2017 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”) announced today that its board of directors declared cash distributions for the months of October, November and December 2017 and its plan to report earnings for the third quarter ended September 30, 2017.
Cash Distributions:
Common Stock: $0.125 cash distribution per common share for each of October, November and December 2017, payable per Table 1 below. The Company has paid 153 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 inception, over 10 years ago.
| Table 1: Summary of common stock cash distributions: | |||
| Record Date | Payment Date | Cash Distribution | |
| October 20 | October 31 | $0.125 | |
| November 20 | November 30 | $0.125 | |
| December 19 | December 29 | $0.125 | |
| Total for the Quarter: | $0.375 | ||
Senior Common Stock: $0.0875 cash distribution per share of the Company’s senior common stock (“Senior Common”) for each of October, November and December 2017, payable per Table 2 below. The Company has paid 90 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 7 | $ | 0.0875 | |
| December | January 8 | $ | 0.0875 | |
| Total for the Quarter: | $ | 0.2625 | ||
Series A Preferred Stock: $0.1614583 cash distribution 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 2017, payable per Table 3 below. The Series A Preferred Stock trades on NASDAQ under the symbol “GOODP.” The Company has paid 141 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: | |||
| Record Date | Payment Date | Cash Distribution | |
| October 20 | October 31 | $0.1614583 | |
| November 20 | November 30 | $0.1614583 | |
| December 19 | December 29 | $0.1614583 | |
| Total for the Quarter: | $0.4843749 | ||
Series B Preferred Stock: $0.15625 cash distribution 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 2017, payable per Table 4 below. The Series B Preferred Stock trades on NASDAQ under the symbol “GOODO.” The Company has paid 132 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: | |||
| Record Date | Payment Date | Cash Distribution | |
| October 20 | October 31 | $0.15625 | |
| November 20 | November 30 | $0.15625 | |
| December 19 | December 29 | $0.15625 | |
| Total for the Quarter: | $0.46875 | ||
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 October, November and December 2017, payable per Table 5 below. The Series D Preferred Stock trades on NASDAQ under the symbol “GOODM.” The Company has paid 17 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 5: Summary of Series D Preferred Stock cash distributions: | |||
| Record Date | Payment Date | Cash Distribution | |
| October 20 | October 31 | $0.1458333 | |
| November 20 | November 30 | $0.1458333 | |
| December 19 | December 29 | $0.1458333 | |
| Total for the Quarter: | $0.4374999 | ||
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, 2017, after the stock market closes on Tuesday, October 31, 2017. The Company will hold a conference call Wednesday, November 1, 2017 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 December 1, 2017. To hear the replay, please dial (855) 859-2056 and use playback conference number 54352285.
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 January 1, 2018.
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 June 30, 2017, the Company currently owns 94 properties. Additional information can be found at www.gladstonecompanies.com.
Investor Relations Inquiries:
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
Source: Gladstone Commercial Corporation
For further information: Gladstone Commercial Corporation, +1 703-287-5893
Released October 10, 2017