Farmland Partners Inc. Announces an Update to Its Expected Special Dividend, Payable in January 2024
November 08, 2023 at 04:30 pm EST
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Farmland Partners Inc. announced an update to its expected special dividend, resulting from the significant appreciation of assets sold during 2023. Special Dividend Details: Consideration: cash. Timing expectation: to be officially declared in December to stockholders of record on a date later in December, and to be paid in January 2024.
Amount: FPI expects the special dividend to be between $0.20 and $0.38 per share of common stock and Class A Common OP Unit. This amount could decrease or increase with asset sale transactions that have not been finalized. Note: the special dividend described herein is in addition to the quarterly dividend of $0.06 per share of common stock and Class A Common OP Unit that was declared on October 24, 2023.
Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire North American farmland and makes loans to farmers secured by farm real estate. The Company owns and/or manages approximately 171,100 acres in 16 states, including Arkansas, California, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Oklahoma, South Carolina and Texas. In addition, the Company owns land and buildings for four agriculture equipment dealerships in Ohio leased to Ag Pro under the John Deere brand. Its portfolio is used to grow primary crops, such as corn, soybeans, wheat, rice and cotton, and produce specialty crops, such as almonds, citrus, blueberries and vegetables. In addition, under the FPI Loan Program, it provides loans to third-party farmers (both tenant and non-tenant) to provide financing for property acquisitions, working capital requirements and others. It has over 26 crop types and over 100 tenants.
FARMLAND PARTNERS INC. 
