Gladstone Land Co. (NASDAQ:LANDM) Announces Dividend Increase – $0.10 Per Share

Gladstone Land Co. (NASDAQ:LANDM) declared a monthly dividend on Monday, October 14th, Wall Street Journal reports. Investors of record on Friday, December 20th will be given a dividend of 0.1042 per share on Tuesday, December 31st. This represents a $1.25 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Friday, December 20th. This is an increase from Gladstone Land’s previous monthly dividend of $0.10.

Gladstone Land Stock Performance

Shares of NASDAQ LANDM traded up $0.10 during mid-day trading on Monday, reaching $24.53. The company’s stock had a trading volume of 1,619 shares, compared to its average volume of 3,066. The stock has a fifty day moving average of $24.45 and a two-hundred day moving average of $24.28. Gladstone Land has a 52 week low of $23.32 and a 52 week high of $24.80.

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.