Gladstone Land Corporation (LAND) will raise its monthly dividend by 0.1 percent to $0.04455 per share in 2019. The company has paid 77 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 15 times over the prior 54 months. 

The first payment will be made on July 31, 2019 to shareholders of record on July 22, 2019. A new annualized rate of 53 cents yields 4.5% at a stock price of $11.71.

The new annual dividend of 53 cents yields 4.2% at a stock price of $12.60 for LAND. The company initiated a monthly dividend in 2013.

Gladstone Land Corporation is a real estate investment trust that specializes in purchasing farms and farm-related properties and leasing them to farmers. Gladstone Land owns farmland in Arizona,  California, Colorado, Florida, Michigan, Nebraska, North Carolina, Oregon and Washington. The company acquires farmland that it rents to corporate and independent farmers on a triple-net lease basis, an arrangement under which the farmer maintains the property while paying rent to Gladstone Land.