Gladstone Commercial Corporation Announces Monthly Cash Distributions for July, August and September 2018, and Second Quarter Ended June 30, 2018 Earnings Release and Conference Call Dates
MCLEAN, Va., July 10, 2018 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company”) announced today that its board of directors declared cash distributions for the months of July, August and September 2018 and also announced its plan to report earnings for the second quarter ended June 30, 2018.
Cash Distributions:
Common Stock: $0.125 cash distribution per common share for each of July, August and September 2018, payable per Table 1 below. The Company has paid 162 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 | |
| July 20 | July 31 | $0.125 | |
| August 21 | August 31 | $0.125 | |
| September 19 | September 28 | $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 July, August and September 2018, payable per Table 2 below. The Company has paid 99 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 10 | $ | 0.0875 |
| September | October 5 | $ | 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 July, August and September 2018, payable per Table 3 below. The Series A Preferred Stock trades on NASDAQ under the symbol “GOODP.” The Company has paid 150 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 | |
| July 20 | July 31 | $0.1614583 | |
| August 21 | August 31 | $0.1614583 | |
| September 19 | September 28 | $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 July, August and September 2018, payable per Table 4 below. The Series B Preferred Stock trades on NASDAQ under the symbol “GOODO.” The Company has paid 141 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 | |
| July 20 | July 31 | $0.15625 | |
| August 21 | August 31 | $0.15625 | |
| September 19 | September 28 | $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 July, August and September 2018, payable per Table 5 below. The Series D Preferred Stock trades on NASDAQ under the symbol “GOODM.” The Company has paid 26 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 | |
| July 20 | July 31 | $0.1458333 | |
| August 1 | August 31 | $0.1458333 | |
| September 19 | September 28 | $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 second quarter ended June 30, 2018, after the stock market closes on Monday, July 30, 2018. The Company will hold a conference call Tuesday, July 31, 2018 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 7, 2018. To hear the replay, please dial (855) 859-2056 and use playback conference number 2479489.
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 September 31, 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 March 31, 2018, the Company owned 98 properties located in 24 states, totaling approximately 11.4 million square feet. 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 July 10, 2018