Gladstone Land Co. (NASDAQ:LANDO – Get Free Report) announced a monthly dividend on Thursday, January 16th,Wall Street Journal reports. Stockholders of record on Wednesday, March 19th will be paid a dividend of 0.125 per share on Monday, March 31st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date of this dividend is Wednesday, March 19th.
Gladstone Land has increased its dividend payment by an average of 22.4% per year over the last three years.
Gladstone Land Price Performance
Shares of NASDAQ:LANDO opened at $20.27 on Friday. Gladstone Land has a 12-month low of $18.81 and a 12-month high of $22.90. The stock’s 50-day moving average price is $21.32 and its two-hundred day moving average price is $21.68.
About Gladstone Land
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.
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