Agree Realty Corp 8-K, filed Dec 1, 2020
Agree Realty Corp (ADC)
About this 8-K
Agree Realty Corp filed this 8-K on December 1, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date
of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
|
(Commission file number) |
(I.R.S. Employer Identification No.) |
|
(Address of principal executive offices) |
(Zip code) |
(Registrant’s telephone number, including
area code) (
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 7.01. | Regulation FD Disclosure. |
On December 1, 2020, the Company issued a press release announcing an increase to the Company’s quarterly cash dividend and the Company’s progress on November rent collections.
A copy of the press release is furnished as Exhibit 99.1 to this report.
The Company has posted a copy of the press release in the Invest section of its website at www.agreerealty.com.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit | Description |
| 99.1 | Press release, dated December 1, 2020, entitled “Agree Realty Declares Increased Quarterly Cash Dividend & Provides November Rent Collections Update”. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AGREE REALTY CORPORATION | |||
| By: | /s/ Clayton R. Thelen | ||
| Name: Clayton R. Thelen | |||
| Title: Chief Financial Officer and Secretary | |||
Date: December 1, 2020
Exhibit 99.1
 |
70 E. Long Lake Rd. Bloomfield Hills, MI 48304 www.agreerealty.com |
FOR IMMEDIATE RELEASE
Agree Realty Declares Increased Quarterly Cash Dividend &
Provides November Rent Collections Update
Bloomfield Hills, MI, December 1, 2020 -- Agree Realty Corporation (NYSE: ADC) (the “Company”) today declared an increased quarterly cash dividend and provided an update on November rent collections.
Fourth Quarter 2020 Dividend
The Board of Directors has authorized, and the Company has declared, a quarterly cash dividend of $0.620 per common share. This is the Company’s 107th consecutive cash dividend and represents a 3.3% increase over the previous quarterly dividend and a 6.0% increase over the quarterly dividend declared in the fourth quarter of 2019. The dividend is payable January 6, 2021 to shareholders of record at the close of business on December 23, 2020.
November Rent Collections Update
As of November 30, 2020, the Company has received November rent payments from 99% of its portfolio and entered into deferral agreements with tenants representing less than 1% of November rents. November marks the third consecutive month the Company has received 99% of all contractual monthly rental obligations.
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. As of September 30, 2020, the Company owned and operated a portfolio of 1,027 properties, located in 45 states and containing approximately 21.0 million square feet of gross leasable area. The Company’s common stock is listed on the New York Stock Exchange under the symbol “ADC”. For additional information, please visit www.agreerealty.com.
###
Contact:
Clay Thelen
Chief Financial Officer
Agree Realty Corporation
(248) 737-4190