Agree Realty (ADC) will raise its monthly dividend by another 4.8 percent to $0.217 in Q2 of 2021. This follows a dividend hike of 0.2 percent earlier this year when the REIT started paying monthly dividends.  Last year the shopping center REIT announced two dividend hikes for a total increase of 6.0 percent. Agree Realty has now raised its dividend 9 consecutive years. 

The next monthly dividend is payable May 14, 2021 to shareholders of record at the close of business on April 30, 2021. A new annual dividend rate of $2.60 per share will yield an estimated 3.8% at a stock price of $69. According to calculations made by dividendhike.com Agree Realty will now pay an estimated $144 million in dividends to shareholders annually, up from $137 million annually previously.

Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. Its community shopping centers include Capital Plaza, Frankfort; Central Michigan Commons, Mount Pleasant, and West Frankfort Plaza, West Frankfort. Agree Realty Corporation has paid a dividend to shareholders every year since 1993.