Gladstone Land Announces Preferred Stock Repurchase Authorization
Gladstone Land Announces Preferred Stock Repurchase Authorization
MCLEAN, VA / ACCESSWIRE / May 17, 2024 / Gladstone Land Corporation (Nasdaq:LAND) ("Gladstone Land" or the "Company") announced that its board of directors has authorized a share repurchase program for up to $20,000,000 of the Company's 6.00% Series B Cumulative Redeemable Preferred Stock (Nasdaq:LANDO) and up to $35,000,000 of the Company's 6.00% Series C Cumulative Redeemable Preferred Stock (Nasdaq: LANDP) (together, the "Preferred Stock Repurchase Program"). The repurchases are intended to be implemented through open market transactions on U.S. exchanges or in privately negotiated transactions, in accordance with applicable securities laws, and any market purchases will be made during applicable trading window periods or pursuant to any applicable Rule 10b5-1 trading plans. The timing, prices, and sizes of repurchases will depend upon prevailing market prices, general economic and market conditions and other considerations. The board's authorization of the Preferred Stock Repurchase Program expires May 17, 2025, and the Preferred Stock Repurchase Program may be suspended or discontinued at any time and does not obligate the Company to acquire any particular amount of preferred stock.
弗吉尼亚州麦克莱恩/ACCESSWIRE/2024年5月17日/格拉德斯通置地公司(纳斯达克股票代码:LAND)(“格拉德斯通置地” 或 “公司”)宣布,其董事会已批准一项股票回购计划,回购公司6.00%的B系列累计可赎回优先股(纳斯达克股票代码:LANDO)的最高2,000,000美元,以及公司6.00%的C系列累积回购中高达3500万美元的股票回购计划可赎回优先股(纳斯达克股票代码:LANDP)(统称为 “优先股回购计划”)。根据适用的证券法,回购旨在通过美国交易所的公开市场交易或私下谈判的交易来实施,任何市场购买都将在适用的交易窗口期内或根据任何适用的第10b5-1条交易计划进行。回购的时机、价格和规模将取决于当前的市场价格、总体经济和市场状况以及其他考虑因素。董事会对优先股回购计划的授权将于2025年5月17日到期,优先股回购计划可以随时暂停或终止,并且不要求公司收购任何特定数量的优先股。
"After a thorough analysis and in consultation with our board of directors, we are announcing a share repurchase authorization as part of a capital allocation strategy that we believe is in the best interest of our shareholders and our business. We believe that the current market conditions provide an attractive buying opportunity for our preferred stock and that using capital to repurchase our preferred shares at appropriate prices represents a favorable strategic use of capital," said David Gladstone, President of the Company.
“经过全面分析并与董事会协商,我们宣布股票回购授权,这是我们认为符合股东和业务最大利益的资本配置战略的一部分。我们认为,当前的市场状况为我们的优先股提供了有吸引力的买入机会,使用资本以适当的价格回购优先股代表了资本的有利战略用途。” 该公司总裁戴维·格拉德斯通说。
About Gladstone Land Corporation:
关于格拉德斯通置地公司:
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. The Company currently owns 168 farms, comprised of approximately 112,000 acres in 15 different states and over 49,000 acre-feet of water assets in California, valued at a total of approximately $1.5 billion. Gladstone Land's farms are predominantly located in regions where its tenants are able to grow fresh produce annual row crops, such as berries and vegetables, which are generally planted and harvested annually. The Company also owns farms growing permanent crops, such as almonds, apples, cherries, figs, lemons, olives, pistachios, and other orchards, as well as blueberry groves and vineyards, which are generally planted every 20-plus years and harvested annually. Approximately 30% of the Company's fresh produce acreage is either organic or in transition to become organic, and over 20% of its permanent crop acreage falls into this category. The Company may also acquire property related to farming, such as cooling facilities, processing buildings, packaging facilities, and distribution centers. Gladstone Land pays monthly distributions to its stockholders and has paid 135 consecutive monthly cash distributions on its common stock since its initial public offering in January 2013. The Company has increased its common distributions 34 times over the prior 37 quarters, and the current per-share distribution on its common stock is $0.0466 per month, or $0.5592 per year. Additional information, including detailed information about each of the Company's farms, can be found at .
Gladstone Land成立于1997年,是一家上市房地产投资信托基金,收购并拥有位于美国主要农业市场的农田和农场相关物业。该公司目前拥有168个农场,包括15个不同州的约11.2万英亩土地,在加利福尼亚州拥有超过49,000英亩英尺的水资产,总价值约15亿美元。格拉德斯通地的农场主要位于其租户能够种植新鲜农产品一年生作物(例如浆果和蔬菜)的地区,这些作物通常每年种植和收获。该公司还拥有种植永久作物的农场,例如杏仁、苹果、樱桃、无花果、柠檬、橄榄、开心果和其他果园,以及蓝莓树林和葡萄园,这些树林和葡萄园通常每20多年种植一次,每年收获一次。该公司大约30%的新鲜农产品种植面积要么是有机农产品,要么正在向有机农产品过渡,其永久作物种植面积中有20%以上属于这一类别。公司还可能收购与农业相关的财产,例如冷却设施、加工大楼、包装设施和配送中心。格拉德斯通置地按月向其股东支付分红,自2013年1月首次公开募股以来,已连续每月为普通股支付了135笔现金分配。在过去的37个季度中,该公司的普通股分配额增加了34倍,目前其普通股的每股分配为每月0.0466美元,合每年0.5592美元。其他信息,包括有关公司每个农场的详细信息,可在以下网址找到 。
Owners or brokers who have farmland for sale in the U.S. should contact:
在美国出售农田的所有者或经纪人应联系:
- Southeastern U.S. - Brett Smith at (703) 287-5837 or Brett.S@GladstoneLand.com.
- Western U.S. - Bill Reiman at (805) 263-4778 or Bill.R@GladstoneLand.com;
- Mid-Atlantic and Midwest U.S. - Joey Van Wingerden at (703) 287-5914 or Joe.V@GladstoneLand.com; or
- 美国东南部——布雷特·史密斯致电 (703) 287-5837 或 Brett.S@GladstoneLand.com。
- 美国西部——比尔·赖曼致电 (805) 263-4778 或 Bill.R@GladstoneLand.com;
- 美国中大西洋和中西部——Joey Van Wingerden 致电 (703) 287-5914 或 Joe.V@GladstoneLand.com;或
Lenders who are interested in providing Gladstone Land with long-term financing on farmland should contact Jay Beckhorn at (703) 587-5823 or Jay.Beckhorn@GladstoneCompanies.com.
有兴趣向格拉德斯通置地提供长期农田融资的贷款机构应致电 (703) 587-5823或 Jay.Beckhorn@GladstoneCompanies.com 与杰伊·贝克霍恩联系。
For stockholder information on Gladstone Land, call (703) 287-5893. For Investor Relations inquiries related to any of the monthly dividend-paying Gladstone funds, please visit .
有关 Gladstone Land 的股东信息,请致电 (703) 287-5893。有关任何每月支付股息的格拉德斯通基金的投资者关系查询,请访问。
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:
谨慎对待前瞻性陈述:
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements inherently involve certain risks and uncertainties, although they are based on the Company's current plans that are believed to be reasonable as of the date of this press release. Factors that may cause actual results to differ materially from these forward-looking statements include, but are not limited to, the Company's ability to procure financing for investments, downturns in the current economic environment, the performance of its tenants, the impact of competition on its efforts to renew existing leases or re-lease real property, and significant changes in interest rates. Additional factors that could cause actual results to differ materially from those stated or implied by its forward-looking statements are disclosed under the caption "Risk Factors" within the Company's Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on February 20, 2024, and certain other documents filed with the SEC from time to time. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
本新闻稿中的某些陈述是经修订的1933年《证券法》第27A条和经修订的1934年《证券交易法》第21E条所指的 “前瞻性陈述”。这些前瞻性陈述本质上涉及某些风险和不确定性,尽管它们基于公司目前的计划,截至本新闻稿发布之日,这些计划被认为是合理的。可能导致实际业绩与这些前瞻性陈述存在重大差异的因素包括但不限于公司获得投资融资的能力、当前经济环境的衰退、租户的表现、竞争对其续订现有租约或再租赁不动产的努力的影响以及利率的重大变化。公司于2024年2月20日向美国证券交易委员会提交的截至2023年12月31日财年的10-K表以及不时向美国证券交易委员会提交的某些其他文件中,在 “风险因素” 标题下披露了可能导致实际业绩与其前瞻性陈述中陈述或暗示的业绩存在重大差异的其他因素。公司提醒读者不要过分依赖任何此类前瞻性陈述,这些陈述仅代表截至发布之日。除非法律要求,否则公司没有义务公开更新或修改任何前瞻性陈述,无论是由于新信息、未来事件还是其他原因。
For further information:
欲了解更多信息:
Gladstone Land, (703) 287-5893
格拉德斯通乐园,(703) 287-5893
SOURCE: Gladstone Land Corporation
来源:格拉德斯通置地公司