Gladstone Land hikes dividend by 0.4%

On October 11, 2022, Gladstone Land Corporation (LAND) announced a 0.4% dividend hike to $0.0458 per share monthly. LAND has paid 116 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 28 times over the prior 31 quarters. 

The next monthly dividend by Gladstone Land will be paid on October 31, 2022 to shareholders of record on October 21, 2022. The dividend yield is 3.0% at at stock price of $18.93 for LAND. Gladstone Land has now raised its monthly dividend for 8 consecutive years.

Gladstone Land Corporation is a real estate investment trust that specializes in purchasing farms and farm-related properties and leasing them to farmers. Gladstone Land owns farmland in Arizona,  California, Colorado, Florida, Michigan, Nebraska, North Carolina, Oregon and Washington. The company acquires farmland that it rents to corporate and independent farmers on a triple-net lease basis, an arrangement under which the farmer maintains the property while paying rent to Gladstone Land.