Gladstone Commercial Corp. (NASDAQ: GOOD) (the "Company”) announced
today that the Board of Directors declared monthly distributions of
$0.125
per common share for each of the months of January,
February and March of 2009. The distribution equates to a quarterly
distribution of $0.375
and an annual distribution of $1.50
at
the current rate. Monthly common stock distributions will be payable per
Table 1 below.
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Table 1: Summary Table for common stock dividends for the
Quarter Ending March 31, 2009:
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Declared
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X-Date
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Record Date
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Payment Date
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Amount
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January 13
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January 20
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January 22
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January 30
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$0.125
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January 13
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February 17
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February 19
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February 27
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$0.125
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January 13
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March 19
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March 23
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March 31
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$0.125
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Total for the Quarter: $0.375
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All tenants are paying as agreed and all properties held or mortgaged by
the Company are 100% leased and occupied. The portfolio is performing as
expected. Also, the Company holds no investments in sub-prime or other
home mortgages or investments in the housing industry in its portfolio.
The Board of Directors declared monthly cash dividends for the Company’s
7.75% Series A Cumulative Redeemable Preferred Stock of $0.1614583
for
each of the months of January, February and March of 2009. Monthly
dividends will be payable per Table 2 below. The Series A Preferred
Stock trades on the Nasdaq under the symbol "GOODP.”
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Table 2: Summary Table for Series A Preferred stock dividends
for the Quarter Ending March 31, 2009:
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Declared
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X-Date
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Record Date
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Payment Date
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Amount
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January 13
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January 20
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January 22
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January 30
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$0.1614583
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January 13
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February 17
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February 19
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February 27
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$0.1614583
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January 13
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March 19
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March 23
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March 31
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$0.1614583
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Total for the Quarter: $0.4843749
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The Board of Directors declared monthly cash dividends for the Company’s
7.50% Series B Cumulative Redeemable Preferred Stock of $0.15625 for
each of the months of January, February and March of 2009. Monthly
dividends will be payable per Table 3 below. The Series B Preferred
Stock trades on the NASDAQ under the symbol "GOODO.”
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Table 3: Summary Table for Series B Preferred stock dividends
for the Quarter Ending March 31, 2009:
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Declared
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X-Date
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Record Date
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Payment Date
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Amount
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January 13
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January 20
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January 22
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January 30
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$0.15625
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January 13
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February 17
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February 19
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February 27
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$0.15625
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January 13
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March 19
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March 23
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March 31
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$0.15625
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Total for the Quarter: $0.46875
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Gladstone Commercial Corporation offers a Dividend Reinvestment Plan
(DRIP) for its common shareholders. For more information regarding this
Plan, please visit our website at www.GladstoneCommercial.com.
Gladstone Commercial Corporation is a publicly traded real estate
investment trust that focuses on investing in and owning triple-net
leased industrial and commercial real estate properties and selectively
making long-term mortgage loans. Additional information can be found at www.GladstoneCommercial.com.
For further information contact Investor Relations at 703-287-5893.
This press release may include statements that may constitute
"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, including statements with regard to
the future performance of the Company.
Words such as "believes,”
"expects,” "estimates,” "estimated,” "projects” and "future” or similar
expressions are intended to identify forward-looking statements.
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 the Company’s actual results, levels of
activity, performance or achievements to be materially different from
any future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements include, among
others, those factors listed under the caption "Risk factors" of the
Company’s Form 10-K for the fiscal year ended December 31, 2007, as
filed with the Securities and Exchange Commission ("SEC”) on February
27, 2008 and the Company’s Quarterly Reports on Form 10-Q for both the
quarters ended June 30, 2008 and September 30, 2008, as filed on August
5, 2008 and November 5, 2008, respectively. 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.
