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 July, August and September of 2008. 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.
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.
Table 1: Summary Table for common stock dividends for the
Quarter Ending September 30, 2008: Declared
X-Date
Record Date
Payment Date
Amount July 9
July 21
July 23
July 31
$0.125 July 9
August 19
August 21
August 29
$0.125 July 9
September 18
September 22
September 30
$0.125 Total for the Quarter: $0.375
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 July, August and September of 2008. Monthly
dividends will be payable per Table 2 below. The Series A Preferred
Stock trades on the
Nasdaq under the symbol "GOODP.” Table 2: Summary Table for Series A Preferred stock dividends
for the Quarter Ending September 30, 2008: Declared
X-Date
Record Date
Payment Date
Amount July 9
July 21
July 23
July 31
$0.1614583 July 9
August 19
August 21
August 29
$0.1614583 July 9
September 18
September 22
September 30
$0.1614583 Total for the Quarter: $0.4843749
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 July, August and September of 2008. Monthly
dividends will be payable per Table 3 below. The Series B Preferred
Stock trades on the NASDAQ under the symbol "GOODO.” Table 3: Summary Table for Series B Preferred stock dividends
for the Quarter Ending September 30, 2008: Declared
X-Date
Record Date
Payment Date
Amount July 9
July 21
July 23
July 31
$0.15625 July 9
August 19
August 21
August 29
$0.15625 July 9
September 18
September 22
September 30
$0.15625 Total for the Quarter: $0.46875
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 703-287-5835.
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. 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.
