|
Gladstone Land Corp 5.00% Series D Cumulative Term Preferred Stock Due 1/31/2026
Ticker Symbol: LANDM CUSIP: 376549507 Exchange: NGM
QUANTUMONLINE.COM SECURITY DESCRIPTION: Gladstone Land Corp. 5.00% Series D Cumulative Term Preferred Stock , liquidation preference $25 per share, redeemable at the issuer's option on 01/31/2023, at $25 per share plus accrued and unpaid dividends and maturing 01/31/2026. Cumulative distributions of 5.00% per annum ($1.25 per annum or $0.104167 per month) will be payable monthly in arrears, on or about the 5th day of each month to holders of record which will be the 25th day of the proceeding month of the payment date or other record date fixed by the board. (NOTE: the ex-dividend date is one business day prior to the record date). Dividends paid by preferreds issued by REITs are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. If the issuer fails to redeem or call for redemption the Series D Preferred Stock pursuant to the mandatory redemption required on 01/31/2026, the dividend rate on the Series D Preferred Stock will increase by 3.00% per share per annum to 8.00% until such shares are redeemed or called for redemption. This security is possibly subject to an early call as a result of the occurrence of certain corporate events related to retaining status as a REIT (see the prospectus for further information). Upon the occurrence of a change of control resulting in the common shares of the surviving entity no longer being listed on the NYSE, the AMEX or the Nasdaq exchanges and the company has not provided notice that they intend to redeem the preferred shares as a result of the change of control, the holder will have the right to require the redemption of the preferred shares (see the prospectus for details). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, junior to the Series D preferred shares, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Go to Parent Company's Record (LAND)
IPO - 1/12/2021 - 2.10 Million Shares @ $25/share.
Link to IPO Prospectus
Previous Ticker Symbol: LANPP Changed: 1/25/2021
Market Value $52.5 Million
Click for current LANDM price quote from the NASDAQ
Company's Online Information Links
|
Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 1521 Westbranch Drive, Suite 100, McLean, VA 22102 |
Main Phone Number |
703-287-5800 |
Fax Number |
Not Available |
Investor Relations
|
703-287-5893
|
CEO - David J. Gladstone |
CFO - Lewis Parrish |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|