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Gladstone Land Corp's 6.00% Series C Cumulative Redeemable Preferred Stock Goes Ex-Dividend Soon

By Preferred Stock Channel Staff, Thursday, January 18, 1:50 PM ET

On 1/22/24, Gladstone Land Corp's 6.00% Series C Cumulative Redeemable Preferred Stock (NASDAQ:LANDP) will trade ex-dividend, for its monthly dividend of $0.125, payable on 1/31/24. As a percentage of LANDP's recent share price of $19.03, this dividend works out to approximately 0.66%, so look for shares of LANDP to trade 0.66% lower — all else being equal — when LANDP shares open for trading on 1/22/24. On an annualized basis, the current yield is approximately 7.93%, which compares to an average yield of 7.92% in the "Real Estate" preferred stock category, according to Preferred Stock Channel.

As of last close, LANDP was trading at a 24.36% discount to its liquidation preference amount. The chart below shows the one year performance of LANDP shares, versus LAND:

Performance Comparison Chart

Below is a dividend history chart for LANDP, showing historical dividends prior to the most recent $0.125 on Gladstone Land Corp's 6.00% Series C Cumulative Redeemable Preferred Stock:

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In Thursday trading, Gladstone Land Corp's 6.00% Series C Cumulative Redeemable Preferred Stock (NASDAQ:LANDP) is currently up about 0.6% on the day, while the common shares (NASDAQ:LAND) are off about 1.5%.

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