Gladstone Land Corporation As of September 21, 2021 ticker dps (an.) 2021 hike 2020 hike 2019 hike
LAND $0.54 0.4% 0.7% 0.5%
Business yield Hike yrs 5 yr CAGR freq. paid since
Farmland REIT 2.5% 7 1.2% Monthly 2013
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LAND logo © Gladstone Land Corp
LAND logo © Gladstone Land Corp

Gladstone Land Corporation (LAND) will raise its monthly dividend by another 0.1 percent to $0.04495 per share in 2021. This follows a 0.2 percent hike to $0.0449 per share in Q4 of 2020. The board of directors declared increased cash distributions for the months January, February and March of 2021 with the first dividend to be paid on January 29, 2021 to shareholders of record on January 22. The farmland REIT announced four dividend hikes in 2020 for a total increase of 0.7 percent.

The new annual dividend of approximately 54 cents yields 3.5% at a stock price of $15.49 for LAND. The company initiated a monthly dividend in 2013. Last year the monthly dividend was increased for the 6th consecutive year. The company now pays an estimated $13 million in dividends to its shareholders annually.

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.

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