On October 14, 2022, Agree Realty (ADC) announced that it will raise its monthly dividend by another 2.6 percent to $0.24 per share. This follows a dividend hike of 3.1 percent to $0.234 per share monthly earlier in 2022.
The monthly dividend reflects an annualized dividend amount of $2.880 per common share, representing a 5.7% increase over the annualized dividend amount of $2.724 per common share from the fourth quarter of 2021. The dividend is payable November 14, 2022 to stockholders of record at the close of business on October 31, 2022.
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.