Gladstone Land Co. (NASDAQ:LANDM) to Issue Monthly Dividend of $0.10

Gladstone Land Co. (NASDAQ:LANDM) announced a monthly dividend on Wednesday, January 15th,Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be paid a dividend of 0.1042 per share on Monday, March 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend is Wednesday, March 19th. This is a boost from Gladstone Land’s previous monthly dividend of $0.10.

Gladstone Land Price Performance

NASDAQ LANDM traded up $0.04 on Wednesday, hitting $24.72. 11,009 shares of the company traded hands, compared to its average volume of 3,657. The business’s 50 day moving average price is $24.82 and its 200-day moving average price is $24.57. Gladstone Land has a 52-week low of $23.64 and a 52-week high of $25.06.

Gladstone Land Company Profile

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.