Gladstone Commercial Corp. (NASDAQ:GOOD) (the "Company”)
announced today that the Board of Directors declared an increase in
distributions to $0.125 per common share for each of the months
of January, February and March of 2008. The dividends equate to a
quarterly dividend of $0.375 and an annual dividend of $1.50 at the current rate. Monthly dividends 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 March 31, 2008: Declared
X-Dividend
Record Date
Payment Date
Amount January 8
January 21
January 23
January 31
$0.125 January 8
February 19
February 21
February 29
$0.125 January 8
March 19
March 21
March 31
$0.125 Total for the Quarter Ending March 31, 2008: $0.375
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 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 March 31, 2008: Declared
X-Dividend
Record Date
Payment Date
Amount January 8
January 21
January 23
January 31
$0.1614583 January 8
February 19
February 21
February 29
$0.1614583 January 8
March 19
March 21
March 31
$0.1614583 Total for the Quarter Ending March 31, 2008: $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 January, February and March 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 March 31, 2008: Declared
X-Dividend
Record Date
Payment Date
Amount January 8
January 21
January 23
January 31
$0.15625 January 8
February 19
February 21
February 29
$0.15625 January 8
March 19
March 21
March 31
$0.15625 Total for the Quarter Ending March 31, 2008: $0.46875
All tenants are paying as agreed, and all buildings are 100% leased and
occupied. The portfolio is performing as expected. Also, we have no
investments in sub-prime home mortgages or housing industry.
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, 2006, as filed with the
Securities and Exchange Commission ("SEC”)
on February 27, 2007, and the Company’s form
10-Q for the quarter ended March 31, 2007, as filed with the SEC on May
1, 2007. 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.
