Agree Realty Announces Increased Quarterly Cash Dividend

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Dec 02, 2014, 04:01 ET

BLOOMFIELD HILLS, Mich., Dec. 2, 2014 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) announced today that its Board of Directors has declared a fourth quarter 2014 common stock dividend in the amount of $0.45 per share, an increase of 4.7% over the previous quarterly dividend. The dividend is payable January 6, 2015 to shareholders of record at the close of business on December 23, 2014.

This is the second common stock dividend increase declared by the Company's Board of Directors in 2014. The new annualized dividend of $1.80 per share represents an increase of 9.8% over the annualized dividend of $1.64 as of the fourth quarter 2013.

About Agree Realty Corporation

Agree Realty is primarily engaged in the acquisition and development of properties net leased to industry leading retail tenants. The Company currently owns and operates a portfolio of 196 properties, located in 36 states and containing approximately 4.3 million square feet of gross leasable space. The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol "ADC".

For additional information, visit the Company's home page at www.agreerealty.com.

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SOURCE Agree Realty Corporation