Gladstone Land hikes dividend by 0.2%

On January 10, 2023, Gladstone Land Corporation (LAND) announced a 0.2% dividend hike to $0.0459 per share monthly. The next monthly dividend will be paid on January 31, 2023. The next ex-dividend date is January 19, 2023 and LAND currently yields 2.8% at a stock price of $19.67.

Gladstone Land has paid 119 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013 and has increased its common stock distributions 29 times over the prior 32 quarters.

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.