February 20, 2024 is a significant day for investors eyeing Gladstone Land Corp’s 6.00% Series C Cumulative Redeemable Preferred Stock (Symbol: LANDP). This is when the stock will trade ex-dividend, entitling shareholders to the monthly dividend of $0.125, payable on February 29, 2024. As a percentage of LANDP’s recent share price of $20.19, this dividend translates to roughly 0.62%. Therefore, come February 20, 2024, when LANDP shares commence trading, one can expect a potential decrease of 0.62% in their value. On an annualized basis, the current yield stands at approximately 7.42%, making it a compelling consideration for income investors. To put it in perspective, this compares favorably to an average yield of 7.82% in the “Real Estate” preferred stock category, according to Preferred Stock Channel.
The one-year performance of LANDP shares versus LAND can be observed in the chart below:
Delving into the dividend history, the chart below illustrates historical dividends prior to the most recent $0.125 on Gladstone Land Corp’s 6.00% Series C Cumulative Redeemable Preferred Stock:
In Friday’s trading session, Gladstone Land Corp’s 6.00% Series C Cumulative Redeemable Preferred Stock (Symbol: LANDP) is currently down about 0.1%, whereas the common shares (Symbol: LAND) are down approximately 1.2%.
Click here to learn which S.A.F.E. dividend stocks also have preferred shares that should be on your radar screen »
Also see:
- Institutional Holders of HCKT
- HSACU Historical Stock Prices
- BWP market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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